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Join Date: Oct 2003
Location: Sydney, AUS
Posts: 1,079
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Aquarium raises debt level to fund zoo
14-12-2004
Aquarium raises debt level to fund zoo
Quote:
Sydney Aquarium today reassured shareholders that its planned zoo would not suffer as a result of competition from the long-established Taronga Zoo.
The company plans to build its zoo, called Australia's Animal World, alongside the Sydney Aquarium site at Darling Harbour at a cost of $45 million. The two-storey native animal wildlife park is expected to open in July 2006.
Sydney Aquarium is also spending another $5 million on a new attraction at Sydney Tower after its $9 million acquisition of the company that runs the observation deck at the landmark building in July this year.
The new attraction will be called SkyWalk and will allow visitors to walk outside the top of the tower at 270 metres above road level. SkyWalk will open in April next year.
Both the zoo and SkyWalk are being funded by a bank facility and shareholders at today's annual meeting approved the company increasing its debt to $70 million to fund the new attractions.
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