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The Information Technology and Broadcasting Bureau and Lands Department announced today (Wednesday) that Tseung Kwan O Town Lot 67 had been awarded to Hong Kong Movie City Company Limited, a consortium with Shaw Brothers (HK) Ltd as the major shareholder, at a tendered price of $78 million.

"Hong Kong Movie City Company Limited has pledged to build a state-of-the-art film studio with advanced post-production facilities," said Secretary for Information Technology and Broadcasting, Mr Kwong Ki-chi.

"This should strengthen our film production capabilities and enhance Hong Kong's position as a post-production service centre in Asia.

"We are committed to promoting the healthy and long-term development of the film industry. We shall continue to explore areas where government's support is needed," he continued.

The initiative of making land available for film production use is aimed at encouraging infrastructural investment in film production and in advanced post-production technologies.

The site occupies an area of 29,800 square metres and can be developed to a gross floor area of 59,600 square metres.

Tender invitation was published on March 27 and closed on June 19. Two submissions were received. Tenders were assessed on a number of factors including the premium offered, the business plan as well as the likely contributions the development can bring to the film industry.

End/Wednesday, August 12, 1998

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