15 July 2003KUALA LUMPUR - Tanjong plc will develop a tropical island holiday resort in Brand, Germany, with its proposed acquisition of the assets of CargoLifter AG group of companies for euro17.5 million (US$20 million) cash.
Among the assets are the largest free standing hangar in Europe measuring 360m long, 210m wide and 107m high; a visitors' centre and buildings; and about 500ha of freehold land.
The hangar in Brand, about 60km from Berlin, will be developed into the Tropical Island resort featuring a rainforest, sea, lagoon, beaches, water parks, exhibition centres and tropical flower world.
Tanjong's wholly-owned subsidiary, Tanjong Entertainment Sdn Bhd (TESB), has entered into an agreement with Au Leisure Investments Pte Ltd to form a 50:50 joint venture to develop the resort.