Tourists at a Six Flags Entertainment Corp theme park in North America. [Photo provided to China Daily]

The Walt Disney Co and Universal Studios Inc are busy opening their massive new businesses in China's affluent coastal areas, but other global leading theme park operators have their eyes fixed on the potential of the vast, less-developed inland regions.

About a month after the grand opening of the Shanghai Disney Resort, Six Flags Entertainment Corp announced on Wednesday, in southwestern China's Chongqing, that it is to build a new theme park, in partnership with Riverside Investment Group.

Chongqing Riverside-Six Flags Theme Town Park, which is to cost an estimated of 30 billion yuan ($4.48 billion), will be the first international theme park in western China.

It is Six Flags' second project in China. Its first one in Haiyan, Zhejiang province, also cost 30 billion yuan.

Founded in Texas in 1961, the US group is a regional theme park company with 18 projects in North America. It features hundreds of roller coasters, thrill rides and family attractions.

Chongqing, with a population of 30 million, is the gateway to China's western regions.

"Such a world famous theme park will help boost our tourism and attract millions of visitors from neighboring provinces," said Chongqing Mayor Huang Qifan at the investment agreement signing ceremony on Wednesday.

Western China covers 12 municipalities, provinces and autonomous regions with a population of 380 million. Major cities, such as Chongqing and Chengdu, Sichuan's provincial capital, have been actively seeking good theme park projects.

"The platform for growth here is great and it has the perfect formula for our industry," said John Duffey, president and CEO of Six Flags.

"There is a significant population, a growing middle class, growing disposable income and a limited theme park presence," Duffey added.

Data from the China Tourism Academy showed that the total revenue of China's tourism sector was 4 trillion yuan last year, with about 230 billion yuan generated by theme parks.

The nation's theme parks are expected to attract 282 million visitors in 2019, more than double the figure in 2014, according to Euromonitor International.

According to Duffey, there is ample room for many companies to participate in the market, given the minimal number of theme parks in China.

"The attractions Six Flags offers are quite different from Disney－we both offer many types of unique rides and attractions, but Six Flags is known for its record-breaking coasters and breathtaking thrills for guests of all ages," he said.

"Having multiple players build theme parks in China will help the overall industry grow and provide multiple entertainment options for local families and teens."

Riverside Investment signed a deal with Six Flags in 2014 to jointly explore the Chinese market.

Li Zhe, chairman of Riverside Investment, said that the group will build 10 Six Flags theme parks in China in 10 years.

European companies such as Merlin Entertainments Group have already launched non-theme park projects in Chongqing such as an aquarium and a wax works featuring celebrities.

Chen Shi, assistant general manager of TFTR Investment Co Ltd, which holds interests in amusement parks, said there is a structural imbalance in the industry in China.