The Walt Disney Co. and Hong Kong’s government have struck a deal to expand the Disneyland theme park at a cost of about $465 million. The theme park is a joint venture between Walt Disney and the Hong Kong government.

The deal, in the process since the last couple of year, is a part of an effort to boost the fortunes of the theme park which failed to attract visitors since its opening in the year 2005. As a part of the deal, the theme park will get three new theme areas, as well as 30 new attractions.

According to Rita Lau, Hong Kong’s commerce and economic development secretary, “The expansion will be a catalyst to the park’s long-term development and bring benefits to not just the local tourism industry but also the entire economy.”

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