Hong Kong government signs deal for rail link to Disney theme park
Wed Jul 24,12:23 PM ET
HONG KONG (AP) -- Despite opposition criticism, the government has signed an agreement with the Mass Transit Railway Corporation to build a rail link to a Disney theme park now under construction in Hong Kong.
The Legislative Council passed a resolution Wednesday supporting the government's decision to build the 2 billion Hong Kong dollars (U.S. dlrs 256.4 million) link.
Some opposition lawmakers criticized the government for waiving its claim to 798 million Hong Kong dollars (dlrs 102 million) in dividends due to it from railway operator MTR Corp., which it part owns.
The government awarded the contract to MTR Corp. in July, but the signing was delayed as legislators questioned whether it was legal for the government to waive the dividends.
The 3.5 kilometer (2 mile) ride from Hong Kong's main train line to the Disney park, which is due to open in 2006, will take less than four minutes.
Hong Kong is hoping the U.S. dlrs 3.5 billion theme park, financed mostly by Hong Kong taxpayers, will help revive the sluggish economy.
Wed Jul 24,12:23 PM ET
HONG KONG (AP) -- Despite opposition criticism, the government has signed an agreement with the Mass Transit Railway Corporation to build a rail link to a Disney theme park now under construction in Hong Kong.
The Legislative Council passed a resolution Wednesday supporting the government's decision to build the 2 billion Hong Kong dollars (U.S. dlrs 256.4 million) link.
Some opposition lawmakers criticized the government for waiving its claim to 798 million Hong Kong dollars (dlrs 102 million) in dividends due to it from railway operator MTR Corp., which it part owns.
The government awarded the contract to MTR Corp. in July, but the signing was delayed as legislators questioned whether it was legal for the government to waive the dividends.
The 3.5 kilometer (2 mile) ride from Hong Kong's main train line to the Disney park, which is due to open in 2006, will take less than four minutes.
Hong Kong is hoping the U.S. dlrs 3.5 billion theme park, financed mostly by Hong Kong taxpayers, will help revive the sluggish economy.