Disney Theme Park In Shanghai Soon To Be Reality

November 8th, 2010 - 7:12 pm ICT by GD  

By Meena Kar
Disney Theme ParkNov 8, (THAINDIAN NEWS) A big reason to celebrate for the Mickey Mouse fans in Asia as Walt Disney Co. has signed a deal with the Shanghai government for the building of the long awaited Disney theme park. Fans of the cartoons and other Disney character will be able to experience the thrills of Disney Land in Shanghai and it is also expected to be a great boost to the capital’s tourism industry. Reports indicate that the Disney World theme park could be open by as early as 2014.

Disney stuck the deal on Friday with Shanghai Shen Di Group Co. Ltd. which will act as its joint venture partner. Reports suggest that Disney would hold 43% of the equity shares in the joint venture and the rest of the 57% will belong to the new municipal company, Shanghai Shen Di. For decades the Disney World in China was a topic of great interest but the project was sidelined due to the Beijing Olympics in 2008. The project was approved by the Chinese government in November 2009 and the new joint venture deal takes the project one step closer to becoming a reality.

Disney said in a statement on Friday that they are still waiting for approval of the Chinese government about the incorporation of the related joint venture companies and also the necessary regulatory processes. The theme will cover a total area of 4 square kilometers and will come up near the new international airport in Pudong. Though Disney has ventured on similar territories before with its theme parks in Tokyo and Hong Kong, none of them have lived up to the expectations of the company.

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