Disney in deal to build Shanghai parkHONG KONG, China (Reuters) -- The Walt Disney Company has signed a letter of intent with authorities in Shanghai to build a theme park in the thriving Chinese coastal city, the Hong Kong Economic Times reported on Friday.
Citing unidentified sources, the newspaper said details of the deal were under discussion and construction of the Shanghai park would take less time than Hong Kong's Disney project.
A Disney spokeswoman in Hong Kong said: "We've always stated that having two parks in China was always a possibility. But our focus now is to complete the Hong Kong Disney park by 2005 and 2006."
If the Shanghai park goes ahead it will be Disney's third in Asia.
The report is certain to raise eyebrows in Hong Kong, which is in the process of building a multi-billion dollar Disney park, which the city hopes would be a magnet for visitors from mainland China and rejuvenate its mature tourism industry.
Many quarters in Hong Kong fear that having another park on mainland China would give too much competition.
The Hong Kong park, to be built on reclaimed land off Lantau island, is due to open by early 2006.
The newspaper said the central government in Beijing would assure that Shanghai's Disney park will not open sooner than Hong Kong's.
Japan is the only place in Asia now with a Disney park.
(c) http://www.cnn.com/
Sebastian Horacek alias Coasters
Druckversion
