Texas-based Six Flags in talks over potential theme park in Chongqing

Chongqing has taken a step towards becoming a regional cultural and tourism hub after winning a commitment from US regional theme park company Six Flags on a potential branded theme park in the city.

Six flags has signed a letter of agreement on the project with local partner Riverside Investment Group Co, a real estate developer in China. The project, if successful, would be Six Flag’s second theme park in China.

Chongqing has been attempting to attract international theme park brands to the city, but suffered a set back after Walt Disney Co officials refused to confirm reports that it was looking for a potential Disneyland site in western China.

Chongqing officials said in June said the city was actively bidding for a potential Disney project.

The southwestern metropolis has been seeking to expand its appeal as a tourism destination in a bid to tap China’s shift towards becoming a consumption-oriented economy.

“It’s not about a single project. If Chongqing can attract top brands like Disney, it could become a magnet for several other national and global giants, and heat up the land prices nearby,” said an industry analyst who request anonymity. Most of the parks, including the potential Six Flags project, would be located in suburban counties.

Texas-based Six Flags is slated to complete its first China project in 2019, located in Haiyan, Zhejiang province. Work on the theme park, accessible from Shanghai, commenced in January.