Economy > Investment

Chinese firm to invest 156 mln USD in London theme park

2015-10-21 20:56

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Chinese company SinoFortone Group pledged on Wednesday to invest 100 million pounds (156 U.S. dollars) in the London Paramount Entertainment Resort, a new theme park at Kent county.

The Paramount resort, including hotels, restaurants and bars as well as themed rides and shows, costs a total of 3.2 billion pounds and is expected to open in 2021. "The resort combines the best of Hollywood through Paramount Pictures, the best of British through the involvement of the BBC and Aardman Animations and now the best of Chinese construction expertise through SinoFortone Group," said Nigel Spray, head of principal investments and advisory at Kleinwort Benson.

David Testa, CEO of London Paramount, said that the decision reflected the unique economic and regenerative opportunity provided by the multi-billion pound project. SinoFortone Group is a joint venture between Hong Kong-based Sinolinks Group and Liaoning Fortone Group.

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