Hong Kong Sets Disney Rail Link Deal
HONG KONG (AP) - The government said Tuesday that it has agreed with MTR Corp., which runs the city's subways, to build a $256.4 million rail link to a Disney theme park now under construction.
To help finance the rail link, the government will waive its claim to $102.3 million in dividends from MTR, in which it is a partial owner, the government said in a statement.
It said the 2-mile ride from the 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 $3.5 billion theme park, financed mostly by Hong Kong taxpayers, will help revive an economy that has been sagging badly the past few years
HONG KONG (AP) - The government said Tuesday that it has agreed with MTR Corp., which runs the city's subways, to build a $256.4 million rail link to a Disney theme park now under construction.
To help finance the rail link, the government will waive its claim to $102.3 million in dividends from MTR, in which it is a partial owner, the government said in a statement.
It said the 2-mile ride from the 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 $3.5 billion theme park, financed mostly by Hong Kong taxpayers, will help revive an economy that has been sagging badly the past few years