Dreamworld is set to unveil a multi-million dollar plan to return the theme park to its former glory. The park's owners have put aside $50 million for the project. Stage one will include a state-of-the-art roller coaster, six new water slides and a revamp of the precinct. Dreamworld is still recovering from the deaths of four people on its Thunder River Rapids ride in 2016. A Coronial inquest into the incident is ongoing.

Dreamworld is set to undergo a multimillion-dollar overhaul, as the findings from an inquest into four deaths on one of its rides are yet to be released.

The Gold Coast theme park will undergo a $50 million revamp that includes a state-of-the-art rollercoaster, six new water slides and an extensive overhaul of the entire precinct, The Courier Mail reports.

The investment comes as the park’s latest ride, the Sky Voyager “flying theatre”, finally opens to the public.

“Investment into new rides, attractions and technologies to improve customer experience is key for Dreamworld’s future direction,” the theme park’s CEO, John Osborne, said. “Today’s announcements, along with the opening of Sky Voyager is a fantastic start to our transformation of the park.”

The Sky Voyager has been deemed safe enough to open to the public more than nine months after its completion.

New laws around the registration and operation of amusement park rides, forged after the 2016 Dreamworld tragedy, came into effect in May.

In addition to the $20 million Sky Voyager ride, a $30 million thrill-ride rollercoaster, which would feature a 1.2 kilometre track, multiple inversions and would be capable of reaching speeds of more than 100km/h, is also in the pipeline,

ABC KIDS World will also be in for a multimillion-dollar revamp, while sister park WhiteWater World will construct a new water-slide complex.

The highly-anticipated findings of a coronial inquest into the deaths of four people in Dreamworld’s Thunder River rapids ride in 2016 are still yet to be released.