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What is Kowloon Canton Railway Corporation mean?
The Kowloon-Canton Railway Corporation (KCRC; Chinese: 九廣鐵路公司) was established in 1982 under the Kowloon-Canton Railway Corporation Ordinance for the purposes of operating the Kowloon–Canton Railway (KCR), and to construct and operate other new railways. On 2 December 2007, the MTR Corporation Limited, another railway operator in Hong Kong, took over the operation of the KCR network under a 50-year service concession agreement, which can be extended. Under the service concession, KCRC retains ownership of the KCR network with the MTR Corporation Limited making annual payments to KCRC for the right to operate the network. The KCRC is wholly owned by the Government of Hong Kong and its activities are governed by the KCRC Ordinance as amended in 2007 by the Rail Merger Ordinance to enable the service concession agreement to be entered into with the MTR Corporation Limited.
The XRL Hong Kong Section and the Sha Tin–Central Link have since been injected by the Hong Kong Government into the KCRC.
referencePosted on 03 Dec 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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