HONG KONG
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From Times Staff and Wire Reports
Airport Project’s Costs Soar: The estimated cost of the new airport and associated infrastructure projects has risen by 13.8% in less than a year, the government said. The estimate was $12.45 billion last July. It is now $14.49 billion. Hamish MacLeod, the colony’s financial secretary, said the cost overrun will not be borne by taxpayers. The government’s share remains at $7.66 billion. Private developers and lenders are responsible for the overruns.
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