Shanghai Disney theme park getting $2 billion loan

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Shanghai Disneyland

Shang­hai Disneyland

The oper­a­tor of the pro­posed Shang­hai Dis­ney theme park has suc­ceeded in secur­ing a 12.9 bil­lion yuan ($2 bil­lion U.S.) loan for the park’s con­struc­tion, Chi­nese media reported Wednesday.

Shang­hai Secu­ri­ties News cited Shao Xiaoyun, a vice-president of the Dis­ney theme park oper­a­tor, Shang­hai Shendi Group, as say­ing that the project will receive two syn­di­cated loan amounts — the first being 12.9 bil­lion yuan.

The first and sec­ond syn­di­cated loans will ful­fill the fund­ing needs of the Shang­hai Dis­ney­land project and the Shang­hai Inter­na­tional Tourism Zone,” Shao said.

Tuesday’s loan agree­ment was signed under a frame­work agreed on last May between Shendi Group and a group of 12 banks, led by China Devel­op­ment Bank, Shang­hai Pudong Devel­op­ment Bank and Bank of Com­mu­ni­ca­tions, the Shang­hai Daily reported.

The city of Shang­hai plans to develop a tourism zone around the theme park as well. The theme park is esti­mated to cost $3.9 bil­lion U.S. Hotels and other facil­i­ties will cost another $713 million.

Enter­tain­ment giant Walt Dis­ney Co. will hold 43% of the shares of the owner com­pa­nies. The government-backed Shendi Group will hold­ing the other 57%.

The invest­ment amount will be split between media com­pany Walt Dis­ney Co and the Shendi Group, with Dis­ney hold­ing 43 per­cent of the shares of the owner com­pa­nies and government-backed Shendi hold­ing the remain­ing 57 percent.

Also on Tues­day, Dis­ney announced that it will col­lab­o­rate with China’s Min­istry of Cul­ture and Ten­cent Hold­ings on an ini­tia­tive to pro­mote the country’s ani­ma­tion indus­try, train local tal­ent, and develop world-standard Chi­nese con­tent and franchises.

Dis­ney said in a state­ment that it will pro­vide exper­tise in cre­ative con­cept devel­op­ment — par­tic­u­larly story writ­ing, screen­ing, story refin­ing and mar­ket research — to the country’s National Ani­ma­tion Cre­ative Research and Devel­op­ment Coop­er­a­tion. Ten­cent will give online mar­ket­ing support.

Lit­tle or no invest­ment will be required from the Mouse House, which will enjoy the so-called “first look” at devel­op­ing mate­r­ial into TV shows or movies for Chi­nese and inter­na­tional audiences.

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About Paul Anderson

Paul is an old-timer here at BCDB- his contributions go back to before the site! Paul is widely regarded as a Disney historian, and is also on staff at the Disney Museum in San Francisco. Paul is also a contributing historian for D23, the Disney Club. Paul has published several books and magazine articles on Disney history, too. You are welcome to drop Paul a line here.

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