Shanghai Disneyland construction begins
Shanghai, Apr.8: Yu Zhengsheng, head of the municipal Committee of the Communist Party of China (CPC), has announced the commencement of the construction work on the Shanghai Disneyland theme park after a ground-breaking ceremony was held at the city's Pudong New Area today.
Robert Iger, president and CEO of the Walt Disney Company based in the United States, also attended the ceremony, and said that the castle in the Disney resort to be built in Shanghai will be the highest and biggest among all the Disneyland theme parks around the world.
Covering an area of 1.16 square kilometers, the theme park inside the 3.9-sq-km Shanghai Disney resort will be the world's sixth Disney amusement park and the first one in China. It will also be the third of its kind in Asia, after those in Tokyo and Hong Kong.
The cost for the construction of the project is estimated at 24.5 billion Yuan (3.7 billion US dollars).
Shanghai Shendi Group, which was registered in August 2010, joined hands with Walt Disney Co to undertake the development, construction, investment, operation and management of the Disney theme park and related facilities, Xinhua reports.
They have established three joint-venture companies. One takes charge of the theme park, one is responsible for supporting facilities, and the third is a management firm.
The Shanghai Disney land theme park is scheduled to be completed in five years. upporting projects, including two hotels and retail and catering facilities, will also be built at an estimated cost of 4.5 billion Yuan.
Copyright Asian News International/DailyIndia.com