Work on the scheme – majority funded by commercial banks with the remainder coming from the government – will be carried out in eight phases over a six-year period and will double the number of attractions at the park from 35 to 70 by 2012.

Dr Allan Zeman, chair of the park, said: “The redevelopment is truly an exciting project – not only for those who are directly involved in every aspect of it, but also the community, which will benefit from the variety of business and employment opportunities.”

The park, which will not close throughout the work, will be split into two areas; the Waterfront and the Summit.

The Waterfront will consist of three themed zones: Aqua City, which will house the Ocean Park Grand Aquarium complex; Birds of Paradise, a tropical area; and Whiskers Harbour, where families can find Ocean Parks’ signature characters.

The Summit will showcase animals and entertainment from four different global climate zones: Marine World, Rainforest, Thrill Mountain and Polar Adventure.

Attendees at the ground breaking ceremony included Selina Chow, chair of the Hong Kong Tourist Board; Eva Cheng, permanent secretary for economic development; and Ocean Park’s board members and directors.

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