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The multi-purpose park is to be developed at a waterfront site of more than 1.5 million square feet adjacent to the Macau ferry pier.

Sociedade de Turismo e Diversoes de Macau's (STDM), wholly owned by Mr Ho, has a 51 per cent stake in the project.

The remainder is owned by Macau businessman David Chow, who is also chief executive of Macau Fisherman's Wharf International.

Macau Government Tourist Office deputy director Maria Helena de Senna Fernandes discounted the impact on Hong Kong tourism.

She said Macau Fisherman's Wharf should complement Disneyland in the long run, given increasing tourist arrivals in the future.

An additional theme park in the region would also meet the growing demand for this kind of entertainment from Japanese tourists.

Japanese theme-park tours could be routed through Hong Kong or Macau and on to other theme parks in Zhuhai.

Mr Chow, who originated the theme-park idea, said it was aimed at providing family entertainment.

Although it included the existing floating casino and some additional slot-machine arcades, gambling would take a back seat.

'Macau needs a change of image and this massive redevelopment will help lead the way,' he said.

The theme park will include a 340-metre-high man-made volcano, an African castle, and pleasure rides which will take tourists through history.

It will embrace three separate themes.

The area occupied by the floating casino will be expanded to become Dynasty Wharf, which will include a fleet of sampans selling seafood.

An adjoining 'East Meets West' development, to be built on 400,000 sq ft of reclaimed land, will include the man-made volcano, with periodic eruptions, a medieval castle and theme rides. An underground shopping arcade and 650 car-parking spaces will be provided.

The third site, Legend Wharf, will be built atop a 450,000 sq ft platform on hundreds of concrete piles. It will include a marina, two replica sailing craft, restaurants, bars, video arcades and a huge discotheque.

Macau Fisherman's Wharf International expected that more than 60 per cent of the three-million-plus visitors each year would come from China.

It also said Macau could attract up to 13 million visitors annually in the next two to three years.

Last year's arrivals totalled 9.16 million, 70 per cent of them from Hong Kong. This was a 23 per cent increase over 1999.

In the first three months this year, the number of visitors to Macau reached 2.45 million, up 12.8 per cent from the same period last year, according to the Macau Government Tourist Office.

The theme park follows another STDM tourism project, Macau Tower - an integration of the convention and entertainment centre - which is under construction at the south-western tip of Macau peninsula.

The 338-metre tower, to be the world's 10th-highest free-standing tower, will offer panoramic views of the Macau skyline, the Pearl River and the islands of Hong Kong.

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