MTR Corporation
Encyclopedia
MTR Corporation Limited is a company listed on the Hong Kong Exchange
and included in the Hang Seng Index
. MTR owns and runs the Hong Kong MTR
metro system, and is also a major property developer and landlord in Hong Kong. It also invests in railways in different parts in the world, and has obtained contracts to operate rapid-transit systems in London
, Stockholm
, Beijing
, Shenzhen
, and Melbourne
.
so as to look over the initial construction of the Hong Kong Mass Transport System. Later, it operates and manages the functioning transport system. On 30 June 2000 the MTRC was succeeded by the MTR Corporation Limited (MTRCL). As with the MTRC, the MTRCL's principal business is to operate the mass transit railway system. Following a successful initial public offering
, the MTRCL was listed on the Hong Kong Stock Exchange
on 5 October 2000, however the government is still the major stakeholder in the MTRCL.
On 2 December 2007, the company started running the original KCRC railway system, which the plan is commonly known as the MTRCL-KCRC merger. The Chinese name of the company became 香港鐵路有限公司 (literally translated as Hong Kong Railway Corporation Limited) but English equivalent remained Mass Transit Railway (MTR). The logo of MTR symbolises a railway line connecting Hong Kong Island
and Kowloon
.
. Prior to its listing on the Hong Kong Stock Exchange
, the Mass Transit Railway Corporation was wholly owned by the Hong Kong Government. The offering involved the sale of around one billion share
s, and the company now has the largest shareholder
base of any company listed in Hong Kong. In June 2001, MTR was transferred to Hang Seng Index
.
At the time of the initial public offering
, the company was operating with a budget surplus of HK$360 million, which had increased from a surplus of HK$278 million in 1997. However, after the IPO profits decreased as the company lost much of its subsidies
(mainly development rights of lands) from the government, dropping to HK$139 million. Yet, this trend seems to have reversed, as profits grew more than tenfold in the fourth quarter of 2004, making it one of the few profitable
public transport systems in the world.
MTR Corporation has always been reliant on developing properties next to railway stations for its profits (although the rail lines are profitable themselves); many recently built stations are incorporated into large housing estates or shopping complexes. Examples of this type of construction can be seen at Tsing Yi
station, which is built next to the Maritime Square
shopping centre, and directly underneath the Tierra Verde
housing estate.
station. The MTRCL is also involved in the letting of retail and poster advertising space, ATM banking facilities, and personal telecommunication
services. It also provides consultancy services to organisations worldwide.
situated in West Kowloon
that is owned by the MTR will be developed into an area with residential, office and retail space. Two of Hong Kong's largest banks, HSBC
and the Bank of China
are to have office towers there. Furthermore, will be more than 7,000 housing units in the development. The MTR also owns several shopping centres, as well as the new International Finance Centre
.
(青衣城) located at Tsing Yi station
. Maritime Square is a nautical-themed mall in which there are supermarkets, boutique
s, bookstores, a cinema, and restaurants. Since Tsing Yi station serves as the transportation hub
for Tsing Yi
, Maritime Square is also easily accessible by other transportation means including buses and taxis
. Other shopping centres developed and managed by the corporation include Paradise Mall, Telford Plaza, Luk Yeung Galleria
and The Lane.
There had been some discussion of merging the Kowloon–Canton Railway Corporation (KCRC), which was also government-owned, and the MTR to make the territory's transport system more efficient. The MTRCL backed such a merge while the KCRC opposed the plan. In March 2004, the Hong Kong Government officially encouraged the two companies to merge.
On 11 April 2006, the Hong Kong Government officially announced the details of the proposed merger. Under the non-binding Memorandum of Understanding
the Government has signed with KCRC, KCRC would grant a Service Concession to the MTRCL to operate the KCR
system, with an initial period of 50 years. The KCRC would receive a one-time upfront payment of HK$4.25 billion, a fixed annual payment of HK$750 million and a variable annual payment based on revenues generated from operation of the KCR system. In addition, MTRCL would make a payment of $7.79 billion for the acquisition of property and other related commercial interests.
The railway lines the KCRC operated were less profitable than the MTRC, and the KCRC was less active in property development. It was widely considered that the Government's choice was to avoid being criticised for selling assets of the KCRC, which it wholly owned to MTRCL at an underpriced level. Leasing the operation right of the KCR system to the MTRCL could avoid actually selling the KCRC.
On 2 December 2007, the Chinese name of the MTRCL was changed to 香港鐵路有限公司 (literal translation: Hong Kong Railway Corporation Limited) after being granted the Service Concession while the English name will remain unchanged. The KCRC is now a holding company of the KCR system, without actual railway operations. The merger was approved by shareholders of the MTRCL on 9 October 2007. The merger is effective for 50 years.
All adult Octopus Card
holders would be the first to benefit from the merger. Student and Concessionary Octopus holders would also benefit from the merger by further reducing $0.1 from their 50% off fares. Student Octopus holders would continue to pay the current reduced concessionary fares on the MTR network. Elderly Octopus holders would be introduced to a new fare system which only the elderly can enjoy a $2 fare to anywhere on the MTR network (excluding Airport Express, Light Rail, and Cross-Boundary Stations).
franchise
in the United Kingdom. However, Govia has been selected as the operator.
MTR corporation were bidding for the West Midlands
Train route in England, but have since withdrawn their bid.
The company and Laing Rail established a joint venture for the London Overground
franchise.
In December 2006, Govia and MTR Laing were selected to submit "best and final offers" for the franchise. On 19 June 2007, MTR Laing successfully won the London Overground
franchise. MTR Laing has since changed its name to London Overground Rail Operations Limited (LOROL), as Laing Rail Group has become acquired by Germany's Deutsche Bahn
. LOROL is mainly managed by Laing Rail Group Management moved from their Chiltern Railways
division with MTR providing specialists as needed.
In February 2009, MTR Corporation were shortlisted as a possible company to run the Tyne and Wear Metro
service in Newcastle upon Tyne
, UK.
in Macau
.
trains in Sweden and Denmark together with SJ AB
.
On 20 January 2009, it was announced that MTR was awarded the contract to operate the Stockholm Metro
. The contract is for eight years with an option to extend the agreement for another six years. MTR started operating the metro on 2 November 2009.
, aligned with United Group. In August 2008 it was confirmed that they had been shortlisted.
On 25 June 2009 MTR were awarded the rights to operate Melbourne's train network as part of a joint venture with John Holland Melbourne Rail Franchise and United Group Rail Services. The contract began on 30 November 2009 and it will continue for 8 years, with the option of extending that contract for another 7 years. It is set to operate as a locally themed consortium MTM (Metro Trains Melbourne
). MTR took over from Melbourne's existing network operator (French-owned firm Connex) on 30 November 2009.
and its extension Daxing Line
of Beijing Metro for 30 years since its inauguration.
MTR Properties and MTR Property Management
Documentaries
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
and included in the Hang Seng Index
Hang Seng Index
The Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong...
. MTR owns and runs the Hong Kong MTR
MTR
Mass Transit Railway is the rapid transit railway system in Hong Kong. Originally opened in 1979, the system now includes 211.6 km of rail with 155 stations, including 86 railway stations and 69 light rail stops...
metro system, and is also a major property developer and landlord in Hong Kong. It also invests in railways in different parts in the world, and has obtained contracts to operate rapid-transit systems in London
London Overground
London Overground is a suburban rail network in London and Hertfordshire. It has been operated by London Overground Rail Operations since 2007 as part of the National Rail network, under the franchise control and branding of Transport for London...
, Stockholm
Stockholm Metro
The Stockholm Metro is a metro system in Stockholm, Sweden. The first line opened in 1950, and today the system has 100 stations in use, of which 47 are underground and 53 above ground. There are seven lines numbered from 10 to 19, in three groups identified by a color: the Green, Red and Blue lines...
, Beijing
Line 4, Beijing Subway
Line 4 of the Beijing Subway is the 9th subway line in Beijing's mass transit network. It entered into operation on September 28, 2009, and runs from north to south, parallel and to the west of Line 5, through Haidian, Xicheng, Xuanwu and Fengtai Districts in the western half of the city. It is...
, Shenzhen
Line 4, Shenzhen Metro
Longhua Line of Shenzhen Metro runs northward from Futian Checkpoint to Qinghu. Trains operate at 8 minute frequencies at all times. There are electronic signboard system which display estimated train arrival times.-Operation by MTR:...
, and Melbourne
Metro Trains Melbourne
Metro Trains Melbourne is the current franchise operator of the suburban railway network of Melbourne, Australia. Metro Trains Melbourne is a joint venture led by Hong Kong based MTR Corporation together with John Holland Group and United Group Rail .Metro Trains Melbourne operates a fleet of 381...
.
History of the Corporation
The Mass Transit Railway Corporation (Chinese: 地下鐵路公司) was established in 1975 as a government-owned statutory corporationStatutory Corporation
A statutory corporation or public body is a corporation created by statute. While artificial legal personality is almost always the result of statutory intervention, a statutory corporation does not include corporations owned by shareholders whose legal personality derives from being registered...
so as to look over the initial construction of the Hong Kong Mass Transport System. Later, it operates and manages the functioning transport system. On 30 June 2000 the MTRC was succeeded by the MTR Corporation Limited (MTRCL). As with the MTRC, the MTRCL's principal business is to operate the mass transit railway system. Following a successful initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
, the MTRCL was listed on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
on 5 October 2000, however the government is still the major stakeholder in the MTRCL.
On 2 December 2007, the company started running the original KCRC railway system, which the plan is commonly known as the MTRCL-KCRC merger. The Chinese name of the company became 香港鐵路有限公司 (literally translated as Hong Kong Railway Corporation Limited) but English equivalent remained Mass Transit Railway (MTR). The logo of MTR symbolises a railway line connecting Hong Kong Island
Hong Kong Island
Hong Kong Island is an island in the southern part of the Hong Kong Special Administrative Region. It has a population of 1,289,500 and its population density is 16,390/km², as of 2008...
and Kowloon
Kowloon
Kowloon is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. It is bordered by the Lei Yue Mun strait in the east, Mei Foo Sun Chuen and Stonecutter's Island in the west, Tate's Cairn and Lion Rock in the north, and Victoria Harbour in the south. It had a population of...
.
Privatisation
On 5 October 2000, the MTR Corporation Limited became Hong Kong's first privatised rail and metro company, which marked the start of the Hong Kong government's planned initiative to wind down its interests in various public utilitiesUtility
In economics, utility is a measure of customer satisfaction, referring to the total satisfaction received by a consumer from consuming a good or service....
. Prior to its listing on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
, the Mass Transit Railway Corporation was wholly owned by the Hong Kong Government. The offering involved the sale of around one billion share
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
s, and the company now has the largest shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
base of any company listed in Hong Kong. In June 2001, MTR was transferred to Hang Seng Index
Hang Seng Index
The Hang Seng Index is a freefloat-adjusted market capitalization-weighted stock market index in Hong Kong. It is used to record and monitor daily changes of the largest companies of the Hong Kong stock market and is the main indicator of the overall market performance in Hong Kong...
.
At the time of the initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
, the company was operating with a budget surplus of HK$360 million, which had increased from a surplus of HK$278 million in 1997. However, after the IPO profits decreased as the company lost much of its subsidies
Subsidy
A subsidy is an assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributors in an industry to prevent the decline of that industry or an increase in the prices of its products or simply to encourage it to hire more labor A subsidy (also...
(mainly development rights of lands) from the government, dropping to HK$139 million. Yet, this trend seems to have reversed, as profits grew more than tenfold in the fourth quarter of 2004, making it one of the few profitable
Profit (accounting)
In accounting, profit can be considered to be the difference between the purchase price and the costs of bringing to market whatever it is that is accounted as an enterprise in terms of the component costs of delivered goods and/or services and any operating or other expenses.-Definition:There are...
public transport systems in the world.
MTR Corporation has always been reliant on developing properties next to railway stations for its profits (although the rail lines are profitable themselves); many recently built stations are incorporated into large housing estates or shopping complexes. Examples of this type of construction can be seen at Tsing Yi
Tsing Yi (MTR)
Tsing Yi is an interchange station on the Tung Chung Line of MTR and Airport Express on Tsing Yi Island in Hong Kong. On the Tung Chung Line, it is located between Sunny Bay Station and Lai King Station. On the Airport Express, it is between Airport Station and Kowloon Station. The livery of...
station, which is built next to the Maritime Square
Maritime Square
Maritime Square is a 4-storey shopping centre located on Tsing Yi Island, Hong Kong. It was built and is owned by the MTR Corporation Limited in conjunction with the opening of Tsing Yi station...
shopping centre, and directly underneath the Tierra Verde
Maritime Square
Maritime Square is a 4-storey shopping centre located on Tsing Yi Island, Hong Kong. It was built and is owned by the MTR Corporation Limited in conjunction with the opening of Tsing Yi station...
housing estate.
Operations
Hong Kong
The MTR Corporation Limited is responsible for the operation of MTR (and KCR since 2 December 2007) in Hong Kong. Besides railway operations, the MTRCL is also actively involved in the development of key residential and commercial projects above existing stations and along new line extensions as well as many other commercial activities associated with the railway. The most recent of such developments was the large Maritime Square shopping centre development which was built in conjunction with Tsing YiTsing Yi (MTR)
Tsing Yi is an interchange station on the Tung Chung Line of MTR and Airport Express on Tsing Yi Island in Hong Kong. On the Tung Chung Line, it is located between Sunny Bay Station and Lai King Station. On the Airport Express, it is between Airport Station and Kowloon Station. The livery of...
station. The MTRCL is also involved in the letting of retail and poster advertising space, ATM banking facilities, and personal telecommunication
Telecommunication
Telecommunication is the transmission of information over significant distances to communicate. In earlier times, telecommunications involved the use of visual signals, such as beacons, smoke signals, semaphore telegraphs, signal flags, and optical heliographs, or audio messages via coded...
services. It also provides consultancy services to organisations worldwide.
Property management
Property is one of the main businesses of the MTR with the profits from this arm outstripping those from fares. In 2009 of a net profit of HK$7.3 billion, MTR made HK$3.55 billion from property and HK$2.12 billion from transport operations. The MTR tries to develop suitable sites related to their new railway projects and their existing railway. For instance, the reclaimed landLand reclamation in Hong Kong
Land is in short supply in Hong Kong, and land reclamation has been conducted there since the mid-19th century.-Projects:One of the earliest and famous project was the Praya Reclamation Scheme, which added 50 to of land in 1890 during the second phase of construction...
situated in West Kowloon
West Kowloon
West Kowloon is a part of Kowloon, Hong Kong situated within the Yau Tsim Mong District. It is bounded by Canton Road to the east, Victoria Harbour to the west and the south, and Jordan Road to the north. Further to the north, the area extends to Tai Kok Tsui to the west of the West Kowloon...
that is owned by the MTR will be developed into an area with residential, office and retail space. Two of Hong Kong's largest banks, HSBC
Hongkong and Shanghai Banking Corporation
The Hongkong and Shanghai Banking Corporation Limited is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc...
and the Bank of China
Bank of China
Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
are to have office towers there. Furthermore, will be more than 7,000 housing units in the development. The MTR also owns several shopping centres, as well as the new International Finance Centre
International Finance Centre
The International Finance Centre is an integrated commercial development on the waterfront of Hong Kong's Central District....
.
Shopping centres
The MTR Corporation invested heavily to develop large scale shopping centres around MTR stations. An example of such a shopping centre is Maritime SquareMaritime Square
Maritime Square is a 4-storey shopping centre located on Tsing Yi Island, Hong Kong. It was built and is owned by the MTR Corporation Limited in conjunction with the opening of Tsing Yi station...
(青衣城) located at Tsing Yi station
Tsing Yi (MTR)
Tsing Yi is an interchange station on the Tung Chung Line of MTR and Airport Express on Tsing Yi Island in Hong Kong. On the Tung Chung Line, it is located between Sunny Bay Station and Lai King Station. On the Airport Express, it is between Airport Station and Kowloon Station. The livery of...
. Maritime Square is a nautical-themed mall in which there are supermarkets, boutique
Boutique
A boutique is a small shopping outlet, especially one that specializes in elite and fashionable items such as clothing and jewelry. The word is French for "shop", via Latin from Greek ἀποθήκη , "storehouse"....
s, bookstores, a cinema, and restaurants. Since Tsing Yi station serves as the transportation hub
Transportation hub
A transport hub is a place where passengers and cargo are exchanged between vehicles or between transport modes. Public transport hubs include train stations, rapid transit stations, bus stops, tram stop, airports and ferry slips. Freight hubs include classification yards, seaports and truck...
for Tsing Yi
Tsing Yi
Tsing Yi , or Tsing Yi Island is an island in the urban area of Hong Kong, to the northwest of Hong Kong Island and south of Tsuen Wan. With an area of 10.69 km², the island has extended drastically by reclamation along almost all its natural shore and the annexation of Nga Ying Chau and Chau...
, Maritime Square is also easily accessible by other transportation means including buses and taxis
Taxicabs of Hong Kong
Taxicabs of Hong Kong provide a taxi system. Most taxis are independently owned and operated, but some are owned by taxi companies, and the drivers are employees....
. Other shopping centres developed and managed by the corporation include Paradise Mall, Telford Plaza, Luk Yeung Galleria
Luk Yeung Galleria
Luk Yeung Galleria is one of the largest shopping centres in Tsuen Wan, New Territories, Hong Kong, located in Luk Yeung Sun Chuen, above MTR Tsuen Wan Station. It has a total area of ....
and The Lane.
MTR-KCR merger
On 11 April 2006, the Hong Kong Government officially announced the details of the proposed merger. Under the non-binding Memorandum of Understanding
Memorandum of understanding
A memorandum of understanding is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in...
the Government has signed with KCRC, KCRC would grant a Service Concession to the MTRCL to operate the KCR
Kowloon-Canton Railway
The Kowloon–Canton Railway refers to a railway network in Hong Kong which is now combined with the MTR railway system, comprising rapid transit services, a light rail system and feeder bus routes within Hong Kong, and intercity passenger and freight train services to the rest of China...
system, with an initial period of 50 years. The KCRC would receive a one-time upfront payment of HK$4.25 billion, a fixed annual payment of HK$750 million and a variable annual payment based on revenues generated from operation of the KCR system. In addition, MTRCL would make a payment of $7.79 billion for the acquisition of property and other related commercial interests.
The railway lines the KCRC operated were less profitable than the MTRC, and the KCRC was less active in property development. It was widely considered that the Government's choice was to avoid being criticised for selling assets of the KCRC, which it wholly owned to MTRCL at an underpriced level. Leasing the operation right of the KCR system to the MTRCL could avoid actually selling the KCRC.
On 2 December 2007, the Chinese name of the MTRCL was changed to 香港鐵路有限公司 (literal translation: Hong Kong Railway Corporation Limited) after being granted the Service Concession while the English name will remain unchanged. The KCRC is now a holding company of the KCR system, without actual railway operations. The merger was approved by shareholders of the MTRCL on 9 October 2007. The merger is effective for 50 years.
Fare reductions
All adult Octopus Card
Octopus card
The Octopus card is a rechargeable contactless stored value smart card used to transfer electronic payments in online or offline systems in Hong Kong...
holders would be the first to benefit from the merger. Student and Concessionary Octopus holders would also benefit from the merger by further reducing $0.1 from their 50% off fares. Student Octopus holders would continue to pay the current reduced concessionary fares on the MTR network. Elderly Octopus holders would be introduced to a new fare system which only the elderly can enjoy a $2 fare to anywhere on the MTR network (excluding Airport Express, Light Rail, and Cross-Boundary Stations).
Future expansion
The following railway links are being constructed or planned by MTR currently:- West Island LineWest Island LineThe West Island Line is a rapid transit line under construction of the Hong Kong MTR metro system. Planned as an extension to Island Line, the construction of the West Island line depended on reclamation and redevelopment of Western District....
(Island Line extended westward to Kennedy Town; under Construction , to be completed in 2014) - South Island Line (East and West)South Island LineThe South Island Line is a proposed line of the Hong Kong MTR metro system. Construction to the southern end of Hong Kong Island, which is at present not serviced by any rail transport, has been approved by the Executive Council of Hong Kong...
(Two lines to the south of Island Line, to South Horizons residential area and Wong Chuk Hang; under planning, South Island Line (East) to be completed in 2015) - Kwun Tong Line ExtensionKwun Tong Line (MTR)The Kwun Tong Line is one of the ten lines of the MTR network in Hong Kong. It starts at Yau Ma Tei in West Kowloon and ends at Tiu Keng Leng in Tseung Kwan O, Sai Kung. It is indicated in green on the MTR map. During the morning rush hour, the Kwun Tong Line utilises 27 trains on the tracks...
(to Ho Man Tin and Whampoa; under planning,to be completed in 2015) - Sha Tin to Central LinkSha Tin to Central LinkShatin to Central Link is a proposed railway line in Hong Kong which will run from Tai Wai Station in Tai Wai to Hung Hom. The original proposal had this line running to Central, but this will now be an extension of the East Rail Line....
(extension of Ma On Shan Line to Tsim Sha Tsui, Kwun Tong Line extension to Whampoa, and East Rail Line to Admiralty; under planning;) - Northern Link (New Territories) (Line from Kam Sheung Road to Chau Tau and Lok Ma Chau; under planning)
- North Island LineNorth Island LineNorth Island Line is a proposed reformation of the existing Island Line and extension of Tung Chung Line of the Hong Kong MTR metro system...
(absorption of Island Line by the Tung Chung and Tseung Kwan O lines; proposal deferred to 2016)
United Kingdom
On 24 November 2004, it was revealed that the MTRC (together with GNER) is one of the main players in acquiring the South Eastern TrainsSouth Eastern Trains
South Eastern Trains was a British train operating company, in public ownership, that provided train services in south east London and South East England from 9 November 2003 to 31 March 2006....
franchise
Exclusive right
In Anglo-Saxon law, an exclusive right is a de facto, non-tangible prerogative existing in law to perform an action or acquire a benefit and to permit or deny others the right to perform the same action or to acquire the same benefit. A "prerogative" is in effect an exclusive right...
in the United Kingdom. However, Govia has been selected as the operator.
MTR corporation were bidding for the West Midlands
West Midlands (region)
The West Midlands is an official region of England, covering the western half of the area traditionally known as the Midlands. It contains the second most populous British city, Birmingham, and the larger West Midlands conurbation, which includes the city of Wolverhampton and large towns of Dudley,...
Train route in England, but have since withdrawn their bid.
The company and Laing Rail established a joint venture for the London Overground
London Overground
London Overground is a suburban rail network in London and Hertfordshire. It has been operated by London Overground Rail Operations since 2007 as part of the National Rail network, under the franchise control and branding of Transport for London...
franchise.
In December 2006, Govia and MTR Laing were selected to submit "best and final offers" for the franchise. On 19 June 2007, MTR Laing successfully won the London Overground
London Overground
London Overground is a suburban rail network in London and Hertfordshire. It has been operated by London Overground Rail Operations since 2007 as part of the National Rail network, under the franchise control and branding of Transport for London...
franchise. MTR Laing has since changed its name to London Overground Rail Operations Limited (LOROL), as Laing Rail Group has become acquired by Germany's Deutsche Bahn
Deutsche Bahn
Deutsche Bahn AG is the German national railway company, a private joint stock company . Headquartered in Berlin, it came into existence in 1994 as the successor to the former state railways of Germany, the Deutsche Bundesbahn of West Germany and the Deutsche Reichsbahn of East Germany...
. LOROL is mainly managed by Laing Rail Group Management moved from their Chiltern Railways
Chiltern Railways
Chiltern Railways is a British train operating company. It was set up at the privatisation of British Rail in 1996, and operates local passenger trains from Marylebone station in London to Aylesbury and main-line trains on the Chiltern Main Line to Birmingham Snow Hill with its associated branches...
division with MTR providing specialists as needed.
In February 2009, MTR Corporation were shortlisted as a possible company to run the Tyne and Wear Metro
Tyne and Wear Metro
The Tyne and Wear Metro, also known as the Metro, is a light rail system in North East England, serving Newcastle upon Tyne, Gateshead, South Tyneside, North Tyneside and Sunderland. It opened in 1980 and in 2007–2008 provided 40 million public journeys on its network of nearly...
service in Newcastle upon Tyne
Newcastle upon Tyne
Newcastle upon Tyne is a city and metropolitan borough of Tyne and Wear, in North East England. Historically a part of Northumberland, it is situated on the north bank of the River Tyne...
, UK.
Macau
The company conducted a feasibility report to build a light railMacau Light Transit System
The Macau Light Rail Transit is a proposed mass transit system in the Special Administrative Region of Macau...
in Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
.
Sweden and Denmark
They are also interested to take over the ÖresundOresund
The Sound , is the strait that separates the Danish island Zealand from the southern Swedish province of Scania. Its width is just at the narrowest point between Helsingør, Denmark, and Helsingborg, Sweden...
trains in Sweden and Denmark together with SJ AB
SJ AB
SJ is a government-owned passenger train operator in Sweden. SJ was created in 2000, out of the public transport division of Statens Järnvägar, when the former government agency was divided into six separate government-owned limited companies.-Overview:SJ's operations fall broadly into subsidised...
.
On 20 January 2009, it was announced that MTR was awarded the contract to operate the Stockholm Metro
Stockholm Metro
The Stockholm Metro is a metro system in Stockholm, Sweden. The first line opened in 1950, and today the system has 100 stations in use, of which 47 are underground and 53 above ground. There are seven lines numbered from 10 to 19, in three groups identified by a color: the Green, Red and Blue lines...
. The contract is for eight years with an option to extend the agreement for another six years. MTR started operating the metro on 2 November 2009.
Australia
In July 2008 there were reports that they are bidding to have the right to operate Melbourne's extensive metropolitan train networkRailways in Melbourne
The Melbourne rail network is operated by Metro Trains Melbourne under franchise from the Government of Victoria. The network is based on a commuter rail model centred on the Melbourne Central Business District and Flinders Street Station, rather than a rapid transit model, with a focus on...
, aligned with United Group. In August 2008 it was confirmed that they had been shortlisted.
On 25 June 2009 MTR were awarded the rights to operate Melbourne's train network as part of a joint venture with John Holland Melbourne Rail Franchise and United Group Rail Services. The contract began on 30 November 2009 and it will continue for 8 years, with the option of extending that contract for another 7 years. It is set to operate as a locally themed consortium MTM (Metro Trains Melbourne
Metro Trains Melbourne
Metro Trains Melbourne is the current franchise operator of the suburban railway network of Melbourne, Australia. Metro Trains Melbourne is a joint venture led by Hong Kong based MTR Corporation together with John Holland Group and United Group Rail .Metro Trains Melbourne operates a fleet of 381...
). MTR took over from Melbourne's existing network operator (French-owned firm Connex) on 30 November 2009.
People's Republic of China
The company concluded initials concession agreement to build phase 2 of the Longhua Line of Shenzhen Metro, and to operate the whole line on a BOT basis for 30 years. The phase 2 of Longhua Line have been in test-run for passengers since 16th June, 2011. The company has also formed a joint-venture Beijing MTR Corp. Ltd. with Beijing Capital Group ("BCG"), and the Beijing Infrastructure Investment Co. ("BIIC") to build and operate Line 4 of Beijing SubwayLine 4, Beijing Subway
Line 4 of the Beijing Subway is the 9th subway line in Beijing's mass transit network. It entered into operation on September 28, 2009, and runs from north to south, parallel and to the west of Line 5, through Haidian, Xicheng, Xuanwu and Fengtai Districts in the western half of the city. It is...
and its extension Daxing Line
Daxing Line, Beijing Subway
The Daxing Line of the Beijing Subway is a light rail line that connects the southern Daxing District of the city with the subway network. It extends Line 4 south from its southern terminus at Majialou, on the 4th Ring Road in Fengtai District, to Nanzhao Lu, beyond the 6th Ring Road in Daxing...
of Beijing Metro for 30 years since its inauguration.
External links
- MTR Corporate Website
- Press release on Wuhan (Adobe SystemsAdobe SystemsAdobe Systems Incorporated is an American computer software company founded in 1982 and headquartered in San Jose, California, United States...
AcrobatAdobe AcrobatAdobe Acrobat is a family of application software developed by Adobe Systems to view, create, manipulate, print and manage files in Portable Document Format . All members of the family, except Adobe Reader , are commercial software, while the latter is available as freeware and can be downloaded...
PDF format) - History and Development of the Company, EDGAR Online.
- Transport for London press release
MTR Properties and MTR Property Management
- Maritime Square Website
- Paradise Mall Website
- Luk Yeung Galleria Website
- Telford Plaza Website
- Residents Portal
Documentaries