The Wall Street Journal is reporting today that the Hong Kong government and U.S. Media and Entertainment Company has after 2 years, reached an agreement on the future of Hong Kong Disneyland.

In the agreement, the Walt Disney Company has agreed to fund the $452 million dollar expansion and the Hong Kong government, who has been catching flack over it's use of public monies to fund the park, has agreed to let go of some of it's controlling stake in the park from 57% to 52%.

While there was no completion date announced. the Hong Kong government has said that construction will start later on this year and will increase the size of the park by 23%. The new lands that will be added are:

Grizzly Trail. A 'Frontierland' type land set in a American frontier mining town in the 1880's and will feature a 'Thunder Mountain' style roller coaster.

Mystic Point. A land dedicated to the supernatural and 'mysterious forces'.

Toy Story Land.

Disney has also said that they will be adding rides to these areas that will be unique to Hong Kong Disneyland, in an effort to help its attendance.

For more info, please go to In Asia, Disney's World Will Get Bigger - WSJ.com