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Wanda to Build $15 Billion Project Near China’s Terracotta Army

Asecond $15 billion development project in a week has been announced by Beijing-based conglomerateDalian Wanda Group Co. as Chairman Wang Jianlin ramps up his stated efforts to supplantDisney as the world's biggest theme park and entertainment company.

It has agreed withChina’s Shaanxi provincial government toinvest103 billion yuan($15 billion) tobuild commercial centers and theme parks, includinga Wanda City complex in the capital Xi’an. Wanda had only last week announced a similar project in China’s centralHunanprovince.


Wanda intendsto have 15 "Wanda City" projects throughoutChina by 2020, planning on being thebiggest Chinese theme parks operator. The $5.5 billion Shanghai Disneyland Resort, which opened in June, had overfour million visitors in its first four months and Disney analystsforecast it to be close to breaking even in its first full year of operation.

Wanda to Build $15 Billion Project Near China’s Terracotta Army - Bloomberg