China: Hong Kong, Macau and Guangdong to fund Pearl River bridge

6 August 2008

Guangzhou, China, 6 Aug – Hong Kong, Macau and Guangdong have agreed to jointly fund the building of a bridge to link the three regions with mainland China bearing the brunt of the project, estimated at 3.7 billion euros.

Following a meeting in Guangzhou, Donald Tsang, chief executive of Hong Kong, said the bridge will be funded with 7 billion yuan from Guangdong, 6.75 billion yuan from Hong Kong and 1.98 billion yuan from Macau.

Total investment by the three regional governments – 15.73 billion yuan – represents 42 percent of the bridges construction costs. The rest of the financing will come from bank loans and building is expected to begin by 2010 at the latest.

The “Y”-shaped bridge, with a length between 30 and 35 kilometers and several tunnels under shipping lanes, has a total estimated cost of 40 billion yuan. Two islands will be built at the bridge’s ends to give access to Hong Kong, Zhuhai and Macau. (macauhub)