Shanghai Disneyland to get additional $800 million investment

The Walt Disney Company and Shanghai Shendi Group announced Tuesday a deal to increase joint investment on the coming Shanghai theme park by US$800 million, which is expected to bring 30 percent more visitors than originally planned to the first Disneyland on the Chinese mainland.

Disney and Shanghai Shendi, a consortium of state-owned companies, had already committed to spend US$4 billion on the theme park resort, which is scheduled to open at the end of next year.

Shanghai Shendi will contribute 43 percent of the additional investment while the Walt Disney covers the balance, according to a New York Times report.

The increased spending will be used for new rides, entertaning facilities, dining and retail venues in the park.

Shanghai Shendi said though more facilities will be added in the park, they are still within the 3.9 square kilometers mapped out for the Shanghai Disneyland.

The company said the decision for the joint investment is based on their confidence in the bright prospects for the Shanghai park.