Hong Kong, China, 15 April – The Bank of China has been chosen to lead the banking syndicate that will provide funding for construction of the main structure of the Hong Kong-Zhuhai-Macau bridge, Hong Kong’s Secretary for Transport and Housing said Tuesday.
Eva Cheng Yu-wah said in a press conference that total investment on the 29.6 kilometre bridge was 37 billion yuan (US$5.4 billion) with the loan offered by the banking syndicate totalling 22 billion yuan (US$3.2 billion).
The Chinese central government and the governments of Guangdong, Hong Kong and Macau are due to contribute 15.73 billion yuan to the project.
The bank loan will be paid back over a 35 year period starting on the date the bridge is opened.
Hong will invest 8.75 billion yuan and Macau 1.98 billion yuan.
The Hong Kong secretary of Transport of Housing also said that the toll for passenger vehicles on the bridge between Hong Kong, Zhuhai and Macau was expected to be around 100 Hong Kong dollars (US$12.5) and double that amount for heavy goods vehicles.
According to the MacauNews news agency the director of Macau’s Infrastructure Development Office (GDI), Chan Hon Kit, told reporters the local government was in the process of choosing the location that will link Macau and Zhuhai to the bridge.
Chan Hon Kit also said that as the issue of finding funds to build the bridge had been resolved it was likely work would begin by the end of this year.
The Macau Post newspaper reported that in order to use the bridge vehicles will need special licenses issued by Guangdong, Hong Kong or Macau. (macauhub)