Shanghai Signs Deal for $3.6B Disney Park

Deal marks one of China's biggest-ever foreign investments
By Rob Quinn,  Newser Staff
Posted Nov 5, 2010 4:13 AM CDT
TV journalists broadcast from the future site of Shanghai Disney in the Pudong district east of the city.   (AP Photo/Andy Wong)

(Newser) – Disney has moved a step closer to bringing the Magic Kingdom to Shanghai, which just closed the doors on a record-breaking world expo. The company and a firm backed by the city government have signed a $3.6 billion deal to build the theme park, a year to the day after the Chinese government green-lighted the project, AP reports. Residents have already been moved—some of them forcibly—from farmland where Disney plans to build the park, its fourth outside the US.

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