The Oriental Land Company announced earlier today plans to invest 500 billion yen (approx. $4.5 billion USD) in the next 10 years for the development and expansion of Tokyo Disneyland’s Fantasyland and the addition of a new themed port at Tokyo DisneySea.

The plan for redevelopment in TDL revolves around Fantasyland which will be nearly doubled in size when completed. In addition to the renovation of the already existing Fantasyland, new major attractions, shops and restaurants will be added. Work has already begun on this project, which includes renovation of the already existing infrastructure.

Here’s some information we already know in regard to the Fantasyland expansion at Tokyo Disneyland:

Grand Circuit Raceway and Star Jets are being removed from Tomorrowland

it’s a small world will be remodeled and moved to the east portion of Fantasyland in the space currently occupied by Grand Circuit Raceway

Dumbo is being moved and reimagined to look like its Magic Kingdom counterpart (albeit a single version instead of the double)

Frozen will not be coming to Fantasyland; instead, it will make its way over to Tokyo DisneySea

The Little Mermaid, Beauty and the Beast, Tangled, Dumbo and Alice in Wonderland will all be playing a key role in the redevelopment of Fantasyland

The original Cinderella and Sleeping Beauty meet and greets that were removed from early plans for Florida’s New Fantasyland appear to be included in Tokyo Disneyland’s Fantasyland

Alice in Wonderland plans that were rejected for Walt Disney World will find home in Tokyo Disneyland and will be the centerpiece of the Fantasyland expansion (we posted some of this artwork back in 2012, check it out here)

The expansion of Tokyo Disneyland’s Fantasyland will take its cue from New Fantasyland at the Magic Kingdom in that it will include water features and heavy foresting

Over at Tokyo DisneySea, plans are underway for the addition of a new themed port of call located near the existing Lost River Delta port. The new port of call will include major new attractions, shops and restaurants as well. No details have been released regarding the theming of this port of call, but sources point to an Arendelle Frozen theme.

In addition to these huge undertakings, the press release also mentions that OLC will further invest in the two Parks in multiple ways:

renovation or creation of attractions and entertainment programs

development of hardware that will enhance the guest experience in the Parks (MyMagic+/FastPass+ possibly?)

further improvement of restaurants

easing of congestion

development of measures to protect guests from hot and cold weather

other ways of to make a more comfortable environment for all guests

strengthening the theme parks’ “backstage” support functions and operational base

raising the level of hospitality provided by Cast Members by strengthening human resources development and raising employee satisfaction

You can find the full Press Release on the Oriental Land Company website.