<ARTICLE>                               5
<LEGEND>
     This schedule  contains summary  financial  information  extracted from the
     Company's unaudited  Consolidated  Statement of Loss,  Consolidated Balance
     Sheet, and Consolidated Statement of Cash Flows, in each case for the three
     months ended March 31, 1998, and is qualified in its entirety by reference
     to such financial statements.
</LEGEND>
<MULTIPLIER>                             1,000
<CURRENCY>                               U.S. Dollars
       
                                      
<PERIOD-TYPE>                            3-MOS
<FISCAL-YEAR-END>                        DEC-31-1998
<PERIOD-START>                           JAN-01-1998
<PERIOD-END>                             MAR-31-1998
<EXCHANGE-RATE>                                1
<CASH>                                    21,279
<SECURITIES>                             124,000
<RECEIVABLES>                             11,477
<ALLOWANCES>                                   0
<INVENTORY>                               41,038
<CURRENT-ASSETS>                         136,525
<PP&E>                                   264,261
<DEPRECIATION>                                 0
<TOTAL-ASSETS>                           585,528
<CURRENT-LIABILITIES>                     61,733
<BONDS>                                  465,706
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                     317
<OTHER-SE>                                80,677
<TOTAL-LIABILITY-AND-EQUITY>             585,528
<SALES>                                    3,604
<TOTAL-REVENUES>                          10,022
<CGS>                                      3,881
<TOTAL-COSTS>                             18,262
<OTHER-EXPENSES>                          10,163
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                         6,638
<INCOME-PRETAX>                          (25,242)
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                      (25,242)
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                             (25,242)
<EPS-PRIMARY>                              (1.00)
<EPS-DILUTED>                                  0