The Hong Kong Transport and Housing Bureau released a preliminary blueprint yesterday for seven new rail projects throughout the territory with a budget of HK$110 billion (RMB87.16 billion), South China Morning Post reported. The projects will be built in phases from 2018 to 2026, and would include new lines that complete railway loops on the western half of Hong Kong Island, East Kowloon, and the New Territories. The proposals come as the city faces delays of up to two years and cost overruns in at least three ongoing projects by the MTR Corporation (0066.HKG) responsible for building the territory’s railways.
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