Hong Kong, one of the world’s iconic port cities, said on Tuesday it would finance a new HK$7 billion ($900 million) cruise terminal to avoid further delays after an earlier failure to find suitable investors. Hong Kong has long been hampered by limited facilities to handle cruise ships while rivals Singapore and Shanghai have surged ahead with new luxury liner berthing facilities. The major infrastructure project is expected to bring a wave of economic benefits and position Hong Kong as an Asian cruise-terminal hub but potential developers including Sun Hung Kai Properties failed to reach agreements with the government. Full Story
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