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Monaco drops bid to expand land
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| Contributor | Jason |
| Last Edited | Jason Dec 10, 2008 01:04am |
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| Category | News |
| Media | TV News - British Broadcasting Corporation BBC News |
| News Date | Wednesday, December 10, 2008 05:00:00 AM UTC0:0 |
| Description | Monaco has shelved a multi-billion-dollar plan to extend the tiny Mediterranean principality into the sea, its ruler Prince Albert II said.
The prince said the project was being abandoned due to the global economic crisis and environmental concerns.
The huge artificial peninsula would have been the size of 20 football pitches, packed with housing, shops and tourist facilities.
It had drawn comparisons with the artificial islands off Dubai.
"In the current climate, it would be irresponsible to launch a project of this scale," the prince told the French news agency AFP in an interview, saying the project had fallen short of its funding goals. |
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