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"Listed
mining company Tongkah Harbour Plc, in a consortium
with local and foreign partners, is preparing to bid
for a 100-billion-baht reclamation project in Phuket
to create a world-class tourism destination and
marina.
``We are ready
to start construction work within three months on
the 3,800-rai Phuket Bay, which is part of our
existing 16,000-rai tin mining site, if the
government endorses the project,'' Mr Choi said
yesterday at the company's shareholders' meeting.
Mr Choi
said Tongkah was working closely with the Tourism
Authority of Thailand, the Immigration Bureau, the
Port Authority of Thailand and the Customs
Department on the project.
The scheme
envisages a commercial complex, a national
convention centre, international exhibition centre,
cyberport, duty-free shops, world-class deep-sea
cruise port and a marina.
The project
requires up to 100 billion baht to reclaim coastal
areas along Phuket Bay and build infrastructure as
well as facilities and a deep-sea port.
Under the
initial joint-venture agreement, local investors
would hold a combined 51% stake in the project with
Tongkah Harbour holding the majority, and the
remaining 49% would be allowed for foreign
partnerships."
Bangkok Post, 30 April 2003
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