15 Jul 2009

Johannesburg / South Africa: Chinese Company to Build Amusement Park in South Africa

According to the Chinese news agency Xinhuanet, a Chinese company signed letters of interest for the construction of a 770,000 square metre theme park. Huaquiang Holdings Ltd., a state-owned company engaged in electronics and sugar production based in Shenzhen (having expanded into making 3D cinematic equipment in the past), will cooperate with China Development Bank, the China-Africa Development Fund, and the Industrial Development Corporation of South Africa (IDC). The US$ 250 million Disneyland-style theme park will consist of three zones: African culture, Chinese culture and world culture. Huaqiang subsidiary Fantawild Adventures will develop the theme park. The construction will start late this year and will probably take two to three years to complete. The goal is to entice two million tourists a year. Huaqiang Holdings Ltd. respectively Fantawild is in the process of constructing amusement parks in five Chinese cities. Furthermore, it began to build a theme park in Iran in May 2008. Chinese investment in this project totals 80 million euros. (eap)