"The Magical World of Russia", a $4bn theme park designed and financed by two Californian companies, has been approved for construction in the Kaluga oblast, 180km southwest of Moscow.
Vladimir Putin, the president of Russia, met Anatoly Artamonov, the governor of the Kaluga region, last week to discuss the plans. Kaluga is an economically dynamic region of Russia, and the proposed site would be close to a rail line and an airport.
Development of the park, which will cover 540 acres, will be overseen by the Goddard Group, a hospitality and entertainment design company that has been responsible for rides at a number of US theme parks. It recently worked on the $2bn Galaxy casino resort in Macau, which opened in 2011, and the $3.2bn Studio City scheme, also in Macau, which opened last year.
Using Russian folklore, legends and history, we are actively working to make this a theme park that will reflect the culture and lore of Russia – and one that will be built to a quality level equal to, or better than, any other world-class theme park today– Gary Goddard, Goddard Group chairman
Finance is to be arranged by The Moschanko Investment Group, A Los Angeles-based company that has been trying to arrange the construction of a theme park in Russia since 2011.
Gennady Moshkovich, the chief executive of the group, told the LA Times that the blessing from Putin was "very, very, very important. It’s enormous".
Gary Goddard, Goddard Group’s chairman, told the San Fernando Valley Business Journal that the park would be based on Russian culture.
He said: "Using Russian folklore, legends and history, we are actively working to make this a theme park that will reflect the culture and lore of Russia – and one that will be built to a quality level equal to, or better than, any other world-class theme park today."
Artamonov told Russia’s Tass news agency that the scheme would also include a science section, an interactive entertainment area and the world’s biggest aqua park.
Construction could begin in 14 months, with completion of the entire resort taking place in about five years.
Two other theme park projects are already in progress in Russia.
DreamWorks’ Moscow theme park, Dream Island, is scheduled to enter the construction stage later this year, and to be inaugurated in 2018 as part of a larger, $2.1bn project that also includes parks in St. Petersburg and Yekaterinburg.
Construction of the second, also in Moscow, is being undertaken by NBC Universal, and is due to begin in 2017.
Image: Goddard Group’s visualisation of the park, "The Magical World of Russia"
