Star Cruises in joint venture bid for Kai Tak cruise terminal

**Ally** · 01-22-2008, 11:18 AM

Quote:

Far East cruise operator Star Cruises has joined forces with three Hong Kong-based companies to bid for the operating contract for a new cruise terminal to be built on the site of the former Kai Tak Airport in Hong Kong. This former Crown Colony, now a Special Administrative Region (SAR) of China is urgently in need of a new, large cruise terminal, to cope with the increasing size of cruise ships. Hong Kong’s current Kowloon-based Ocean Terminal is far too small for today’s ships.

The preferred bidder on the new Hong Kong cruise terminal project will be announced in the first quarter of 2008 and will be given a 50 year lease as well as the opportunity of developing offices and retail and commercial facilities. Star’s three Hong Kong partners in the bid are Sun Hung Kai Properties, VXL Capital and Nan Fung Development. The new US $440m terminal will feature two cruise berths and a dedicated passenger terminal.

One of the requirements of any bidder for the new Kai Tak Cruise Terminal is that they have operated a cruise terminal with at least 200,000 arriving and departing passengers in the past three years.

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