Executive Council approves financial arrangement for Tung Chung Line Extension
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The Chief Executive in Council today (February 28) approved the financial arrangement for the Tung Chung Line Extension (TUE). Subsequently, the Transport and Logistics Bureau has signed with the MTR Corporation Limited (MTRCL) the project agreement for the TUE. It is expected that the construction of the project will commence in mid-2023 for completion in 2029.
A Government spokesman said, “The TUE project is implemented under the ownership approach. The MTRCL will be responsible for the financing, design, construction, operation and maintenance of the TUE. The Government, supported by an independent checking consultant, has checked and verified the project financial estimates provided by the MTRCL. The capital cost estimate for the TUE is $19.5 billion (in December 2020 prices) and the funding gap of the TUE is $15.5 billion (July 2022 Net Present Value (NPV)). The Government will provide funding support to the MTRCL in order to implement the project.”
The Executive Council approved granting the MTRCL the property development rights of Tung Chung Area 113 and deducting a total fixed lump sum of $18.3645 billion in money-of-the-day prices (equivalent to the above-mentioned funding gap of $15.5 billion (July 2022 NPV)) from the full market value land premium of the site assessed on a “with-railway” basis in the future as funding support to the MTRCL to implement the TUE project.
Tung Chung Area 113, with an area of about 7.6 hectares, is located in the newly reclaimed land under the Tung Chung New Town Extension (TCNTE) project and in immediate vicinity to the proposed Tung Chung East (TCE) Station under the TUE project. Tung Chung Area 113 is intended for an integrated development for commercial and residential uses cum Public Transport Interchange with the provision of open space and Government, Institution and Community facilities.
“The Government has been advocating the ‘infrastructure-led’ and ‘capacity-creating’ planning principles in taking forward transport infrastructure projects. We will provide funding support to the MTRCL to implement the TUE project. Under the relevant financial arrangement, the MTRCL is required to pay land premium, which is the full market value assessed on a “with-railway” basis less the fixed lump sum, for the development of the site. The MTRCL will also bear all the associated commercial risks arising from market fluctuations and rail operations,” the spokesman said.
The TCNTE is an important source of land supply to meet Hong Kong’s housing, economic and social needs with additional planned population of about 146,000 and 38,000 in Tung Chung East and Tung Chung West respectively. The TUE will offer direct railway access to the TCNTE supporting the sustainable growth in population and employment opportunities in that area. The project mainly comprises the following parts:
(1) the extension of the railway tunnels westward from the end of the existing Tung Chung Station for about 1.3 kilometres with the construction of a new Tung Chung West Station at the west of Yat Tung Estate, to serve Yat Tung Estate, Mun Tung Estate and other housing developments in the adjacent area; and
(2) the re-alignment of approximately 1.2-kilometre long railway track section between the existing Sunny Bay Station and Tung Chung Station with a view to shifting it towards TCE reclamation area and the construction of the new TCE Station to serve the new developments of the TCE reclamation area.
Dec 18, 2022 | International
2022 Legislative Council Election Committee constituency by-election held successfully
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The Constitutional and Mainland Affairs Bureau stated today (December 18) that the 2022 Legislative Council (LegCo) Election Committee constituency (ECC) by-election was held successfully in a fair, just, honest, efficient and user-friendly manner.
The Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai, said, “the voter turnout rate of this by-election was over 90 per cent. Four LegCo ECC members have been elected amongst six candidates from diverse backgrounds and strata. This by-election is the fourth election conducted under the Improved Electoral System and relevant electoral legislation. As in the past, this by-election was held in a fair, just and honest manner.”
When preparing for this by-election, the Constitutional and Mainland Affairs Bureau, the Electoral Affairs Commission and the Registration and Electoral Office have suitably taken out efficient and user-friendly measures to facilitate Election Committee (EC) members. Measures include setting up special queues for those in need, adopting the electronic poll register system at the ECC polling station and electronic counting, as well as arranging EC members who are subject to isolation or quarantine measures today to cast their votes at the Penny’s Bay polling station, etc.
Mr Tsang emphasised, “the Improved Electoral System ensures the implementation of the principle of ‘patriots administering Hong Kong’ and that the democratic system of the Hong Kong Special Administrative Region (HKSAR) adheres to the principle of ‘one country, two systems’ and Hong Kong’s constitutional status, bringing the society back on track to focus on developing the economy, enhancing people’s livelihood, sustaining Hong Kong’s long-term stability and prosperity, and achieving good governance. Regardless of one’s background, whoever meets the requirements and criteria of patriots, can participate in elections in accordance with the law and serve the Hong Kong public by entering into the governance structure of HKSAR.”
He continued, “the new electoral system has established the LegCo ECC, which goes beyond the vested interests of various groups and districts, broadened the representation in the political structure of Hong Kong, thereby enhancing the HKSAR’s governance efficiency. The Government hopes that the newly elected LegCo members can exemplify the broad representation, political inclusiveness, balanced participation and fair competition of the new electoral system.”
Lastly, Mr Tsang thanked all EC members for casting their vote despite the cold weather. Together with the elected LegCo members, the HKSAR Government will shoulder the important responsibility of participating in the governance of Hong Kong, protect the sovereignty, security and development interests of our country, and also enhance the effectiveness of the HKSAR’s governance for the benefit of all Hong Kong people under the principle of “patriots administering Hong Kong”.
Dec 18, 2022 | International
Legislative Council Election Committee constituency by-election result
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The result of the voting for the 2022 Legislative Council Election Committee constituency by-election today (December 18) is as follows:
| No. |
Candidates |
No. of votes obtained |
| 1 |
Wong Kam Fai William* |
983 |
| 2 |
Chan Wing Kwong* |
1 028 |
| 3 |
Ho King Hong Adrian Pedro* |
833 |
| 4 |
Wong Chi Him |
791 |
| 5 |
Shang Hailong* |
812 |
| 6 |
Lee Kwong Yu |
781 |
* elected
Dec 18, 2022 | International
Legislative Council Election Committee constituency by-election final voter turnout
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The voting for the 2022 Legislative Council Election Committee constituency by-election closed at 11.30am today (December 18). 1 307 Election Committee members cast their votes, representing a voter turnout rate of 90.70 per cent.
The voting started at 9am today.
The above figures are for reference only.
