"On safety and operational grounds, MTRC should also proceed with the QBR as soon as possible," said Mr Siu.
He pointed out that MTRC estimated the cost of the TKE, based on an opening date of mid 2002, to be $25 billion. Estimated construction cost of the QBR, based on a completion date of December 2000, was $4.2 billion.
The MTRC had proposed to finance the two projects by themselves without financial support from Government, Mr Siu added.
He emphasized that both the WCR and the TKE were much needed to support the continued social and economic development in the territory.
"In the coming year, we will finalize with both KCRC and MTRC the detailed project scope, financing and implementation programme for the two projects.
"We will proceed with all necessary preparations leading to the drawing up of project agreements with the two Corporations for approval in 1998," said Mr Siu.
"We will be informing the Legislative Council, the Transport Advisory Committee and the relevant District Boards of our plans for the two projects in the coming weeks," he added.
Mr Siu also said that the Governor in Council had approved the Railways Bill which was scheduled for introduction into the Legislative Council on December 18. 1996.
The Bill contains provisions for the preparation and publication of railway schemes and plans, objections, payment of compensation to persons whose interests are affected, reclamation of land, resumption of land or strata, creation of temporary and permanent easements and wayleaves.
The Railways Bill is an enabling legislation to facilitate land resumption and compensation procedures for the construction of railways in general and is modeled mainly on the Roads (Works, Use and Compensation) Ordinance.
"Enactment of the Bill does not signify any commitment to implement individual railway projects. As and when we come to a decision to build any railway project, necessary approvals will need to be obtained, and a project agreement has to be entered into with the prospective builder," said Mr Siu.
End
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