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HONG KONG - HONG Kong, Macau and the southern Chinese province of Guangdong have reached agreement on the partial funding of a bridge linking the three, a project that will cost a total 42.2 billion yuan (S$8.2 billion), media reported.
The South China Morning Post reported that the governments of the three regions would need to pay HK$20 billion (US$2.6 billion), with Hong Kong contributing 50.2 per cent, Guangdong 35.1 per cent and Macau 14.7 per cent.
The rest of the funding would be sought from the private sector through public bidding, the Xinhua news agency said, citing remarks by Guangdong Governor Huang Huahua on the sidelines of the annual session of China's parliament, the National People's Congress.
The total cost is higher than earlier projections for the 29.6 km bridge and does not include the cost of building and operating cross-border facilities and connecting roads, the Post reported.
The authorities in Hong Kong and Macau, which are both special administrative regions of China, and in Guangdong have said they would cover the difference between the construction costs and the investment by the winning private bidder.
The bridge will connect Zhuhai, a city in the southwest of the Pearl River Delta in Guangdong province, to the rest of the delta area and will slash travel times to Hong Kong. Currently, only ferries connects Zhuhai and Macau with Hong Kong.
The western shore of the delta is less economically vibrant than northern Guangdong, the world's factory for everything from clothing to toys, due to its relative inaccessibility.
Bridge operators will be able to charge vehicles for using the bridge for 50 years, although they should be able to recoup their costs in 36 years, Mr Huang said.
Environmental groups say the bridge could further endanger pink dolphins in the delta. Only about 1,000 are left.
More research and environmental assessments are needed, he added. -- REUTERS
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