MTR Corp pays out HK$2.25 billion for high-speed rail construction delays

The MTR Corporation will hand over HK$2.25 billion (US$287 million) to the Hong Kong government as a one-off settlement for the delayed completion of the high-speed rail line, while reaching a consensus to avoid a payout over hurdles affecting the Sha Tin to Central Link. While the transport firm oversaw the design, construction, testing and operation of the two projects, both are owned by the government and involved public funds. Under the arrangements announced on Friday, the MTR Corp will pay...