China: Disney Pushes its Expansion Plans for the Shanghai Disney Resort with an Additional 800 Million US Dollars
An additional sum of approximately five billion Renminbi Yuan (800 million US-Dollars) is flowing into more attractions and entertainment facilities at the Shanghai Disney Resort. Still currently under construction, the groundbreaking ceremony for the new resort was held around three years ago (cp. EAP News from May 2nd, 2011) and the opening is scheduled for the end of 2015. The decision to make the additional investment was taken by Disney and its partner in the joint venture, China’s Shanghai Shendi Group, as a response to the growing travel and tourism market in China and to already increase the capacity for the resort’s Shanghai Disneyland amusement park. Most of the additional attractions are scheduled to be completed by opening day. The financing for the additional investments will be shared by the partners, with the Shanghai Shendi Group still retaining 57 percent and the Disney concern retaining 43 percent of the shares.
By the way: Shanghai Disney Resort will be Disney’s first resort on mainland China and the first Disney park in the world to have a complete “Pirates of the Caribbean” theme land. The area will be called “Treasure Cove” and naturally it will also feature a boat ride called “Pirates of the Caribbean: Battle of the Sunken Treasure”. (eap)
