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Universal to open in Shanghai
Tuesday, 17 Dec, 2002
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Universal Parks and Resorts has struck a deal to open a theme park in Shanghai, China, which could open by 2006.
The park is still subject to government approval and would be built at a cost of $870 million along the Huang Pu River.
Universal and two Chinese partners, who would own a controlling interest in the park, have signed an agreement in principle.
Universal operates parks in California, Florida, Spain and Japan. The new venture would offer a mix of Hollywood and Chinese experiences.
Walt Disney is opening a park in Hong Kong by 2006.
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