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Reclamation Contract for HK Disneyland Signed
A contract on the first stage of reclaiming Penny's Bay, where Hong Kong Disneyland will be located, was signed Monday.
"This is the first reclamation contract for the Penny's Bay, located at the northeast of Lantau Island, and is of paramount importance to the successful completion of the Disneyland Project, " said a spokesman for the government of the Hong Kong Special Administrative Region (HKSAR).
The reclamation is due to be completed by January 2003, according to the contract worth about HK$3.98 billion (US$510 million) signed between the HKSAR government and the HAM-HK Construction Joint Venture.
The scope of works of the contract covers dredging and reclamation to form about 200 hectares of land and construction of about 1,800 meters of permanent seawall and about 1,200 meters of temporary seawall which will be expanded to the second stage of reclamation under a future contract.
The first phase of Hong Kong Disneyland will occupy about 126 hectares of a 280-hectare site to be formed at Penny's Bay. The theme park and resort, planned to open in 2005, will cost 14.1 billion HK dollars (US$1.8 billion) to build. The HKSAR government and Disney will form a joint venture company --Hong Kong International Theme Parks Limited --to develop and operate Hong Kong Disneyland.
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