A series of theme parks has been announced, to open in Mexico, with the first coming to Mexico City later this year at a cost of MX$550m (US$29.4m, €24m, £21.1m).

Coming to the municipality of Iztapalapa on the east side of the Mexican capital, entertainment investment firm Grupo Diniz are behind the franchise, called Kataplum.

Covering 27,000sq m (290,000sq ft), theme park attractions will be split into three areas covering family, children and adventure.The park will also feature two restaurants, a cafe and an auditorium capable of seating 60 people.

Set to open as part of a mixed-use shopping complex in July, at least one more park will follow, with Grupo Denis executive president Antonio Quevedo announcing plans for a second Kataplum in one of Mexico’s central states.

“We see in this model an important model to grow and we hope that by 2021, the amusement park model represents 50 percent of the company’s total revenues,” he added, speaking to Riviera Maya.

The park and shopping centre are scheduled to open later this year, with both set for July. The first Kataplum park is projected to welcome more than 1.2 million visitors a year.