Chinese conglomerate Citic (0267.HKG) has joined forces with Australian entertainment company Village Roadshow (VRL.ASX) to plan multiple amusement parks across Asia, The Wall Street Journal reported. The first of the US$500 million funds the venture is hoping to raise will go to the planned park in the Chinese city of Chengdu, with further opportunities identified across China, Malaysia and South Korea. Village Joint Chief Executive Robert Kirby said the firm, which operates parks in Australia and the US, had spent several years investigating potential construction sites, adding that bringing in a Chinese partner like Citic was an essential part of its plans.
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