Wanda to build $15 bil­lion project

China Daily (USA) - - BUSINESS -

Dalian Wanda Group Co an­nounced its sec­ond multi­bil­lion dol­lar de­vel­op­ment project in a week, as Chair­man Wang Jian­lin stepped up his ef­forts to sur­pass US re­sort go­liath Walt Dis­ney Co by the end of the decade. The Bei­jing-based con­glom­er­ate signed an agree­ment with Shaanxi pro­vin­cial gov­ern­ment to pour 103 bil­lion yuan ($15 bil­lion) in in­vest­ments to build theme parks and com­mer­cial cen­ters there, in­clud­ing a Wanda City com­plex in the cap­i­tal Xi’an, the com­pany said in a state­ment on Wed­nes­day. Last week, Wanda an­nounced a sim­i­lar project in Hu­nan prov­ince. Wanda plans to have 15Wanda City projects across China by 2020, bet­ting on strength in num­bers to be­come the big­gest Chi­nese theme park op­er­a­tor.

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