China: Banks present proposals to fund Hong Kong-Zhuhai-Macau bridge

19 February 2009

Hong Kong, China, 19 Feb – Hong Kong’s Transport and Housing Bureau (THB) announced it has received proposals from four banks for funding of the Hong Kong-Zhuhai-Macau bridge, Chinese newspaper National Business Daily reported.

The THB estimates that the main body of the bridge which is 29 kilometres long will cost around 37.6 billion yuan, although the amount of bank loans required for the project has not yet been decided.

According to the paper, the THB gave no further details about the bank proposals, saying only that the period for handing in proposals had ended.

Construction of Hong Kong-Zhuhai-Macau bridge is due to begin in 2009

The Chinese central government will contribute 5 billion yuan to ensure that the bridge linking Zhuhai to Macau and Hong Kong could start being built at the end of the year, deputy minister Du Ying said in January.

The three governments agreed that Hong Kong would pay for 42.9 percent of the difference between the cost of construction and amount of private investment in the bridge, Guangzhou would pay 44.5 percent and Macau 12.5 percent. (macauhub)