NEW World Development's most recent bid to build a horse racing track near Vancouver has been rejected in favour of a state-funded upgrade of the city's existing facility.
Prior to an official visit to Hongkong this month, British Columbia Premier Mike Harcourt's government announced it would take ''unilateral action'' to ensure the current site was expropriated from the city and renovated under state ownership.
New World's Canadian land-owning partner said a letter outlining the reasons for the government's decision against the group's plan to develop a C$95 million (about HK$582 million) track had been sent to New World chairman Cheng Yu-tung.
''The letter basically states that the government has no desire to pursue any further discussions,'' Western Delta Lands president Tom Johnson said.
''It's just nationalisation of an industry.'' In a private New Year's Day letter to Mr Harcourt, Mr Cheng lashed out at the government's decision against an original development application he made last year.
His group then submitted a second proposal in February, withdrawing a condition involving tax breaks on some construction and operating costs, which the British Columbia government argued were in part subsidised by local taxpayers.