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Hong Kong welcomes Disney with £1bn infrastructure package

LAND RECLAMATION, highway and interchange construction, extensive drainage and a sewage works will all be built by the Hong Kong Government as part of its commitment to the new Disneyland project announced last week.

A total of £1.08bn has been committed by the Special Administrative Area for the infrastructure work, as part of the deal announced last week for the third non-US Disney theme park.

The Government is taking a direct £260M equity stake in the £1.1bn project itself, compared with Disney's £200M commitment. Government loans will provide another £500M of the project investment.

Hong Kong insists that much of the spending on infrastructure around Penny's Bay on Lantau Island would have been spent anyway. Lantau is being gradually developed following completion of the suspension and cable stay bridge connection to the new Chek Lap Kok airport.

The Disney scheme will start with the formation of a 280ha reclaimed site and boost the economy to help China's Special Administrative Region compensate for the recent economic trade downturn.

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