The Egyptian Media Production City (EMPC) has announced that it will re-open the Magic Land theme park starting in 2016.
The theme park will be funded by the EMPC, which will reflect positively on the company's performance in the stock exchange, the EMPC announced Tuesday.
The EMPC had reached an agreement with several foreign investors to run Magic Land, but the Central Bank of Egypt's latest decision on foreign currency transactions prevented the step, the statement added.
Magic Land has been shut down for four years following a conflict between the Fun City Company, which operated the theme park, and the EMPC. A court ruled in favor of the EMPC in 2013.
Edited translation from Al-Masry Al-Youm
