Buzz builds over Shanghai Disney park

October 28, 4:37 AMAsia Headlines ExaminerGlen Loveland

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Photo by David Wong.

SHANGHAI, CHINA – A Chinese newspaper reported this week that Walt Disney Company’s planned theme park in Shanghai has been approved by government regulators, the Securities Times said.

Citing unnamed sources, the newspaper revealed that the Plan for building Disney Theme Park located at Chuansha Huang Liu in Shanghai's Pudong New Area is expected to be announced by the end of October.

The report said the Shanghai Disneyland project plan was passed by a government body earlier this month. The project is expected to cost 3.585 billion USD. The theme park would be located in Chuansha A08-03 lots, close to the subway and the planned Olympic Park. Previous press reports have said that the park would cover eight square miles and be an economic engine for the Pudong area.

Representatives for Disney said the company had no announcements to make at this time.

Disney currently operates a theme park in Hong Kong and has English-training centers for children in Shanghai.