Hong Kong lawmakers question Disney's option to expand theme park


  • Business
  • Wednesday, 16 Mar 2005

HONG KONG (AP) - Lawmakers on Wednesday questioned The Walt Disney Co.'s 20-year option to buy a 54-hectare (130-acre) site near Hong Kong Disneyland, saying the government should consider letting other theme parks use the land."From Hong Kong's standpoint, it doesn't necessarily have to be Disneyland. Other than Disneyland, there are many other theme parks popular in the world,'' opposition lawmaker Sin Chung-kai said at a legislative hearing on Hong Kong Disneyland, due to open Sept. 12.Disney has the first claim to the site up to 2019. The option can be extended up to 10 years if visitor numbers hit 8 million.Commissioner for Tourism Eva Cheng defended the arrangement, saying it was necessary to secure the Disney deal."If Disney knew there would be a different theme park nearby, it would have affected Disney's decision to build Hong Kong Disneyland at the time. This is fair,'' she said.She said the government hopes to launch talks with Disney on exercising its land option soon.However, Hong Kong media last year quoted Financial Secretary Henry Tang as saying that the government has approached three other U.S. theme park companies about coming to Hong Kong _ Six Flags Inc., Universal Studios, and Warner Bros. Studios _ a subsidiary of Time Warner Inc.The 125-hectare (310-acre) Hong Kong Disneyland is a joint venture between Disney and the Hong Kong government, but local taxpayers are footing most of its US$3.5 billion (euro2.6 million) price tag. Critics have questioned whether Hong Kong got a good deal.Cheng said the government will test the park and its transportation infrastructure ahead of the scheduled opening by inviting tour operators and Hong Kong residents to visit.Separately, government engineering official Yip Sai-chor told lawmakers the government has nearly finished processing 30,000 cubic meters (1.05 million cubic feet) of toxic mud from a shipyard cleared for Disneyland's construction. The waste was treated at an island off Hong Kong, prompting at least one protest. - AP 

Latest business news from AP-Wire 

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Wall St set to open higher on tech boost, PCE data
US inflation rises in line with expectations in March
Gamuda Land announces retail partners for Gamuda Gardens
YNH reaffirms bondholders with remedied technical defaults
Ringgit ends firmer against US dollar
KPJ Healthcare partners with Trustr for AI-driven healthcare solutions
Homeritz stays positive amid economic challenges
Unisem expects performance boost amid semiconductor recovery
Gadang wins RM280mil data centre contract
S P Setia unveils Casaville single-storey bungalows in Setia EcoHill, Semenyih

Others Also Read