Disney is planning to build its third theme park at its Disneyland resort in California by 2003.

The town is already home to Disneyland and to the company's California Adventure, which is due to open in early 2001.

Disney said a third theme park would complement the two other ones and said the new park would include water rides or traditional Disney themes such as Winnie the Pooh.

The park, which still requires permission from the local authorities, would have shops, restaurants and a variety of different entertainment.

Eventually, it would cover 78 acres, with a 9,000 car park, plus an elevated "people mover" to transport visitors between the parks.

It intends that the first phase of the project be up and running by 2003, with completion in 2010.

"Creating the magic of a new Disney park requires us to take a long-term view," said Cynthia Harriss, president of The Disneyland Resort.

Planning review to take place

Disney says it will cooperate with town residents, businesses and town leaders "to identify opportunities that will ensure that the Anaheim Resort Area remains a world-class destination for the decades ahead".

Disney has yet to choose a theme for the third park, but possibilities include a water park, based on Typhoon Lagoon at Walt Disney World in Orlando, Florida. It is also considering rides such as the Many Adventures of Winnie the Pooh.

Disney said the new park would benefit the local community by encouraging visitors to stay longer in the town. That would create more revenue for the city in hotel and sales taxes, Disney said.

Disney's first theme park, Disneyland, opened in Anaheim 45 years ago. It plans to open its $1.4bn Disney's California Adventure next February.

Its has theme parks in Orlando in Florida, Tokyo and on the outskirts of Paris and hopes to open a Hong Kong based resort in 2005.