Disney partners with Shanghai on theme park

Walt Disney Co. has struck a deal with the Shanghai city government to create a new company to manage its proposed theme park.

Shanghai Shen Di (Group) Co. will be responsible for construction, management and operation of the $3.8 million Cdn project.

The city has already moved residents off four square kilometres of farmland in the Pudong district near the airport to make way for the park.

Plans released Friday call for a "low-carbon environment" that would have strong potential for international tourism, according to the city government.

The deal comes a year after China's national planning agency approved the plans for the park.

Disney said it was still awaiting final approvals for the project from the central government before construction could begin.

Shanghai drew 72 million visitors, mostly Chinese tourists, to its World Expo, which ended Sunday.

Disney already operates a theme park in Hong Kong and in Japan. It has said the Shanghai resort will include a "Magic Kingdom-style theme park with characteristics tailored to the Shanghai region."