Theme Park set for Shanghai

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Investment	2000-04-04 06:27:00-04
Theme Park set for Shanghai
Two Thai firms team up with Shanghai government to develop theme park in the center of city

Two Thai firms, Safari World Plc and Charoen Pokphand (CP) group have joined forces with the Shangai local government to develop a US$80,000,000 theme park in the center of Shanghai. The project will be entirely financed by the Shanghai government which has offered the Thai firms a long-term, low-interest loan. Safari World currently operates two theme parks. The Phuket FantaSea on the southern resort island of Phuket and Safari World in Min Buri on the outskirts of Bangkok.
The FantaSea park is a cultural sea park and Safari World is an open zoo. The investment of the CP group signals a return to investing in China by the group, which is a major Thai conglomerate.
Earlier statements from the company indicated CP would return to China investment in the areas of retailing, vehicles and beverages, after a two-year absence. The percentage that each of the parties will hold in the Shanghai operation has not yet been determined. The park is to be constructed in the center of Shanghai next to the Shanghai Tower and will cater to the local population. In related news, Safari World announced it is working with the Malaysian government in building a theme park on Langkawi island. The company is also teaming with Thai Airways to promote tourism to Phuket during the off-season from May 16 to November 30. On the corporate financial side, Safari World is moving to restructure its Bt. 2.4 billion debt.

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