<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 six months ended
June 30, 1998,  and is qualified in its entirety by reference to such  financial
statements.
</LEGEND>
<MULTIPLIER>                                1,000
<CURRENCY>                                  U.S. Dollars
       
                                         
<PERIOD-TYPE>                               6-MOS
<FISCAL-YEAR-END>                           DEC-31-1998
<PERIOD-START>                              JAN-01-1998
<PERIOD-END>                                JUN-30-1998
<EXCHANGE-RATE>                             1
<CASH>                                      8,944
<SECURITIES>                                125,008
<RECEIVABLES>                               13,279
<ALLOWANCES>                                0
<INVENTORY>                                 41,038
<CURRENT-ASSETS>                            123,743
<PP&E>                                      265,788
<DEPRECIATION>                              0
<TOTAL-ASSETS>                              562,402
<CURRENT-LIABILITIES>                       55,091
<BONDS>                                     466,581
<PREFERRED-MANDATORY>                       0
<PREFERRED>                                 0
<COMMON>                                    318
<OTHER-SE>                                  44,166
<TOTAL-LIABILITY-AND-EQUITY>                562,402
<SALES>                                     5,740
<TOTAL-REVENUES>                            22,410
<CGS>                                       5,415
<TOTAL-COSTS>                               32,818
<OTHER-EXPENSES>                            14,457
<LOSS-PROVISION>                            0
<INTEREST-EXPENSE>                          15,706
<INCOME-PRETAX>                             (38,963)
<INCOME-TAX>                                0
<INCOME-CONTINUING>                         (38,963)
<DISCONTINUED>                              0
<EXTRAORDINARY>                             0
<CHANGES>                                   0
<NET-INCOME>                                (38,963)
<EPS-PRIMARY>                               (1.23)
<EPS-DILUTED>                               0