The Chief Executive-in-Council approved the financial arrangements for the Hung Shui Kiu (HSK) Station project on September 17.

Subsequently, the Transport & Logistics Bureau has signed with the MTR Corporation (MTRC) the project agreement for HSK Station, construction of which is expected to commence this year for completion in 2030.

The Government said it has been working closely with the MTRC in taking forward the planning and design of HSK Station, and will continue to support and co-ordinate the construction and commissioning of the project.

It added that the project is implemented under an ownership approach and the MTRC will be responsible for the financing, design, construction, operation and maintenance.

Supported by an independent checking consultant, the Government has checked and verified the project financial estimates provided by the MTRC.

The Government said the capital cost estimate for the project is about $6.639 billion in September 2024 prices, adding that it will provide funding support to the MTRC in order to implement the project.

The Executive Council approved granting the MTRC the property development rights of Planning Areas 28A and 28B of the Hung Shui Kiu/Ha Tsuen New Development Area (HSK/HT NDA) with an area of about 8.2 hectares, for residential and commercial development uses, and deducting a total fixed lump sum of $9.850 billion in money-of-the-day prices from the full market value land premium of the sites assessed on a "with-railway" basis in the future as funding support to the MTRC to implement the project.

The Government noted that it has been advocating “infrastructure-led” and “capacity-creating” planning principles in taking forward transport infrastructure projects.

It went on to explain that HSK Station will be an intermediate station on the Tuen Ma Line between Tin Shui Wai Station and Siu Hong Station.

HSK Station will primarily serve the future HSK/HT NDA in the western part of the Northern Metropolis, offering an alternative transport choice to residents in the vicinity.

Currently, the journey between the HSK/HT NDA and Tin Shui Wai Station or Siu Hong Station takes about 20 to 25 minutes during peak hours.

Upon the commissioning of HSK Station, it is expected that the same journey by rail will only take about four minutes, thereby bringing significant transport benefits for the total population of the HSK/HT NDA of around 226,000 upon full population intake, the Government noted.

The Government will continue to foster a collaborative culture with the MTRC through enhanced project communication and supervision platforms for more effective project delivery to enable residents to enjoy the benefits as soon as possible.