SinoFortone to invest in £3.2bn theme park development in London

20 October 2015 (Last Updated October 20th, 2015 18:30)

Chinese infrastructure and construction group SinoFortone intends to invest £100m in the £3.2bn London Paramount Entertainment Resort which has been planned as the biggest theme park in UK.

Chinese infrastructure and construction group SinoFortone intends to invest £100m in the £3.2bn London Paramount Entertainment Resort which has been planned as the biggest theme park in UK.

The project will be developed on a 388 acre site at Swanscombe Peninsula in north Kent.

London Paramount CEO David Testa said: "This shows that our vision for London Paramount and its location in North Kent with excellent transport links to London, Europe and the rest of the world, is appealing to investors, residents and tourists alike.

"This shows that our vision for London Paramount and its location in North Kent with excellent transport links to London, Europe and the rest of the world, is appealing to investors, residents and tourists alike"

"SinoFortone Group of China's decision reflects the unique economic and regenerative opportunity provided by this multi-billion pound project, which will employ thousands of people and be a huge additional offering to the UK's entertainment and tourism industries."

The proposed financing will be the first external investment for project, which will also include water park, theatre, nightclubs, hotels and restaurants along with the theme park.

Kleinwort Benson was the financial adviser for the investment.

Planning permission for the development is expected to be approved by the government in late 2017.

The project, which is being planned to be developed into a Disneyland-style park, is expected to open in 2021.

It will comprise of multiple theme park rides based on popular television programmes and Hollywood films.

Kuwait-backed London Resort Company is the developer for the project which is expected to generate up to 27,000 jobs, and can receive 15 million visitors per year once developed.

SinoFortone Group managing director Peter Zhang and senior advisor Sir Richard Heygate said: "This investment supports President Xi Jinpeng's important 'One Belt One Road' strategy, which encourages international infrastructure investment and trade relationships."