Plans to link Hong Kong and Macau with the China's Zhuhai city to boost economic development between the Pearl River delta neighbors have been endorsed by a powerful government body, it was reported yesterday.
The South China Morning Post quoted backers of the project saying a green light given by China's National Development and Reform Commission could end a drawn out debate over the project and lead to an early start on construction.
A source close to the study told the Post that the commission's Institute of Comprehensive Transportation had reached the initial conclusion that the link be built as soon as possible.
However, the exact route of the 29km bridge across the Pearl River Delta has yet to be decided.
When constructed, it will take just 20 minutes to travel between Hong Kong and the southern Chinese city of Zhuhai.
A consortium of developers led by Gordon Wu, chairman of Hopewell Holdings, and Stanley Ho, chairman of Shun Tak Holdings, is reported to have been established to carry out the project.
Initial investment in the construction is estimated at HK$14 billion (US$1.8 billion).
The consortium will also include Sun Hung Kai Properties, Henderson Land and New World Development.
Kajima Corp, one of Japan's largest contractors, is also said to be considering inclusion.
Hong Kong Chief Executive Tung Chee-hwa said during his policy address in March that a bridge linking the Pearl River delta cities would be built as soon as a feasibility study was carried out.
The proposed bridge is being considered as a way of easing congested traffic at border crossings between Hong Kong and mainland China.
The bridge is also seen as important to Hong Kong's future economic development and trade with the Chinese mainland.
According to a Chinese University study, the completion of a bridge linking the Pearl River Delta neighbors will generate up to an extra US$110 billion in economic output for Hong Kong and the west side of the Pearl River Delta.
The bridge would also lead Hong Kong's economy to grow an extra 1.4 to 1.7 percentage points in 2008.
The estimates were based on the assumption that construction work on the bridge would commence next year and be completed by 2007.
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