Mass Transit Railway
How long is the distance of the MTR?
The 15.6-kilometre modified initial system of the mass transit railway is to link Central District on Hong Kong Island with Kwun Tong in Kowloon.
When
did it begin to construct and how much did it cost?
Work on the railway was begun at the end of 1975 and by the end of 1976 all the major contracts of the 25 civil engineering and 10 electrical and mechanical engineering contracts were lat at a total price which was within the estimates. In addition, contracts were let for the construction at the Kowloon Bay depot of the foundations and podium which will support housing and commercials development above the depot. Included in the development will be homes for 25500 people.
The total cost of building the modified
initial system is$5,800 million at prices adjusted for escalation to 1980, when
the system will go into the full operation. All debts, including interest
charges amounting to a further $1,000 million, will be repaid by 1991-2. The
financing arrangements are: $800 million in cash from the Hong Kong Government
in return for equity; $1,700 million in the form of export credit finance;
and $3,900 million in short and medium term credit facilities. In addition, the
Mass Transit Railway Corporation has raised a $400 million 10-year bond issue on
the Hong Kong market.
What will the modified initial system include?
The modified initial system will have more than eight kilometres of bored tunnel, 3.5 kilometres of cut and covered tunnel, more than 2.4 kilometres of track above ground and a 1.6-kilometre tunnel across Victoria Harbour. There will be 12 underground stations and three above ground. 