Transport | ExCo gives green light to LRT Company creation

The Executive Council (ExCo) has given the green light to the Administrative Regulation project that would create the Macau Light Rapid Transit (LRT) Company, the entity that will be responsible for the construction and maintenance of the infrastructure and equipment of the LRT, ExCo spokesperson Leong Heng Teng informed yesterday at a press conference.

The company will be financed by three government funds, in which the Macau SAR, represented by the Financial Services Bureau (DSF), would control 96 percent of the company, and share the rest with the Industrial and Commercial Development Fund, and Science and Technology Development Fund in shares of 3 and 1 percent respectively.

It was also made known that the shared capital of the company would amount to MOP1.4 billion, and it was confirmed that the company would be allowed to establish cooperation agreements with any other enterprises, as well as develop other activities related to LRT operations or service provision.

Questioned as to the topic of the LRT’s Taipa Line beginning operation, which was the first line to be built and was previously announced to come into operation this year, the Coordinator of the Transportation Infrastructure Office (GIT), Ho Cheong Kei, reaffirmed that the line would open in the second half of this year, but did not offer a more precise date.

With the creation of the new LRT Company, the GIT can finally close. An announcement made by the government in 2016 and noted in last year’s audit report on the project mentioned constant delays and inaction from authorities, not only in terms of construction, but also in administrative aspects of the project. The creation of the LRT Company was expected in 2017, and is, at present, two years overdue.

Questioned on the topic of the GIT’s closure, Ho noted that the office currently has some 93 staff members who would have to choose between being integrated into other public entities or being hired by the new LRT Company. However, it is not yet clear how many of these workers the company will employ.