Euro Disney SCA, the parent company of the operators of Disneyland Paris, said it will sign an agreement on Tuesday with French authorities to extend by 13 years its concession to run its existing theme parks.
In addition, the agreement will give it the right to build a third theme park within 20 years, “depending on market conditions,” the company said in a press statement.
Euro Disney’s current concession runs until the year 2017 and covers an area of 1,943 hectares just outside Paris. The new agreement will extend the agreement until 2030 and expands the area to 2,230 hectares.
The agreement also includes the right to develop another tourist attraction, Les Villages Nature de Val d’Europe (Villages of Nature of the Valley of Europe).
The project would be based on sustainable development and carried out in partnership with the travel group Pierre & Vacances Group via a joint venture.
Euro Disney said the new agreement “could generate an approximate investment of 8 billion euros (10.3 billion dollars) by various tourist and urban developers, including 1.8 billion euros for Les Villages Nature de Val d’Europe.” It could also create up to 70,000 direct and indirect jobs.
Disneyland Paris currently includes Disneyland Park, Walt Disney Studios Park, seven themed hotels with approximately 5,800 rooms, two convention centres, a dining, shopping and entertainment centre and a 27-hole golf course.
It is Europe’s most popular tourist attraction, with 15.4 million visitors in 2009 and more than 215 million since its opening in 1992.
