Haichang Ocean plans to build theme park in Saudi Arabia for $400 mln

China's Haichang Ocean Park plans to build a theme park in Saudi Arabia for nearly $400 million, CNN reported, citing Mohamed Gaber, the company's advisor in the Kingdom.

He added that the company, in cooperation with the government, is studying several locations, expecting it to be in Riyadh.

Haichang Ocean seeks to start work this year, Gaber said, noting that the project needs three to five years to be completed.

Earlier this month, the company signed a memorandum of understanding (MoU) with the Ministry of Investment to develop a major theme park in Saudi Arabia.