Walt Disney denies investing in key Zhengzhou project

Updated 2017-02-14 17:20:53 Ecns.cn

(ECNS) -- Walt Disney Co. has denied any construction or investment plan in Zhengzhou City, Central China's Henan Province, though local authorities said a huge "peripheral" project is in the pipeline.

The city recently released a plan for key projects in 2017 mainly in the fields of high technology, services, health, transport and power.

One of the projects is said to be with Disney in Zhongmou County that would attract a total investment of 3 billion yuan (6 million).

Disney said in a statement to news portal cnstock.com that it has no plans in Henan. "The media report about Disney's participation in key Zhengzhou projects is wrong," the company said.

But Zhongmou insiders insist a project is imminent, although it won't be a theme park, reported local news media outlet Dahe.cn. A source said an entertainment zone may be built in future but not as big as a theme park.

Previous media reports said Disney signed an agreement with Henan People's Government on Nov. 19, 2015 to invest in Zhengzhou's culture and creative industry zone. Disney planned to make Zhengzhou its online trading base for baby and maternal products as well as peripheral products related to its animated characters.

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