HONG KONG, March 22, 2007 ¡X Macao Studio City, Asia's first leisure resort property combining theater, television and film production facilities, and Studio RetailTM with gaming, entertainment and world-class hotels, announced today that it has awarded Vibro (H.K.) Limited (VIBRO) a contract to carry out foundation work on the integrated resort's site in Cotai, Macao SAR. This contract award marks yet another exciting milestone in the construction of this unique resort complex, scheduled to begin operations in early 2009.
VIBRO was established in 1929 and is one of the largest contracting firms in Hong Kong. VIBRO is the construction arm of NWS Holdings Ltd. (Hong Kong stock code: 659), and it has carried a wide range of civil engineering works involving site formation, waterworks, roads and drainage, site investigation and design and construction of foundations for a variety of buildings and infrastructure projects for over 70 years.
The contract is in excess of HK$500 million. Work commenced on the project following its groundbreaking in early January, and this next phase of work begun by VIBRO this week will include the placement of over 5,000 piles. VIBRO was selected following a competitive tender involving nine bidders.
"Macao Studio City is excited that large-scale foundation work on our site in Cotai is intensifying and our selection of VIBRO is yet another example of our partnering with firms that are leaders in their respective business areas,¡¨ said David Friedman, Co-Chairman and Co-Chief Executive Officer of Macao Studio City. "Macao Studio City will bring together a range of companies with leadership and strength in retail, entertainment, hospitality and gaming, to create a unique resort complex providing visitors with an unforgettable leisure experience.¡¨
Macao Studio City will be developed on an approximately 35-acre site strategically located "Where Cotai BeginsTM¡¨, next to the new Lotus Bridge immigration checkpoint, linking the complex directly to Zhuhai's Hengqin Island. When completed, Macao Studio City will boast some of the most comprehensive entertainment and retail facilities of any single property in Macao, with theaters, arenas, television and film production facilities, as well as a 1.4 million square feet Studio RetailTM complex ¡V created in partnership with Taubman Centers, Inc.
