The governments of Guangdong Province and the Hong Kong and Macao special administrative regions are expected to set up the managing authority for the massive Hong Kong-Zhuhai-Macao Bridge this month to manage the structure, the HKSAR government said on Tuesday.

The project was discussed at the Hong Kong-Guangdong Co- operation Joint Conference's 15th working meeting in Hong Kong Tuesday, which was co-chaired by Hong Kong's Chief Secretary Henry Tang and Guangdong Vice-Governor Liu Kun, according to an official statement.

The under-construction bridge will be the world's longest cross- sea bridge, which links China's southern economic hub of Guangdong Province to Hong Kong and Macao regions.

The entire project was estimated to cost almost 73 billion yuan (10.8 billion U.S. dollars), which would be shared by authorities on the mainland, and in Hong Kong and Macao.

Construction began in December last year. It was scheduled to be put into service in 2016.

According to the statement following the 15th working meeting, with development projects in the Qianhai area in neighboring city Shenzhen, and the northwest New Territories being taken forward, clearer planning parameters for these areas would be available so more in-depth studies on the Hong Kong-Shenzhen Western Express Line can be conducted to explore the alignment options.

The three sides will also release the findings of the regional co-operation plan on building a quality living area as soon as possible upon completion of the study report.