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MTR CORPORATION Signs Project Agreement With HK Govt for Northern Link Part 2, Expects HKD9.9B Capex Over Next 3 Yrs
2026-11-10 17:38:56 MTR CORPORATION (00066.HK) announced that it signed a project agreement today (10th) with the Secretary for Transport and Logistics, regarding the Northern Link (NOL) (Part 2). The project agreement covers the financing, design, construction and completion of the NOL (Part 2) Project, and the pre-operation, operation and maintenance of the Northern Link as a whole. The Company expects to incur the NOL (Part 2) Project Cost over a period of around 10 years and, over the next three years, expects to incur capital expenditure on the NOL (Part 2) Project of around approximately HK$1.1 billion in 2027, HK$2.9 billion in 2028 and HK$5.9 billion in 2029. On the basis of the Company’s significant current cash resources, its proven access to a highly diversified range of capital markets, and that the expenditure is expected to be incurred over a ten-year period, it is considered that this expenditure can be accommodated within the Company’s funding plans. The Company will continue to pay close attention to monitoring the financing requirements and their impact. The NOL (Part 2) Proposed Development Sites are approximately 46 hectares in aggregate for the eight specific sites (with certain sites being developed in portions) for which the proposed uses are residential, commercial and railway facilities. The NOL (Part 2) Proposed Development Sites have been identified and the Company shall be permitted to undertake property development thereat to contribute to the financial return of the NOL (Part 2) Project so that the Company can achieve an appropriate commercial rate of return on the NOL (Part 2) Project. ~ AASTOCKS Financial News Website: www.aastocks.com | |