Paramount Pictures is building its first European theme park in Alhama de Murcia in Spain.

Despite the country’s economic woes, Paramount Licensing Inc. and Spanish officials said the park will cost $1.35 billion. It is also expected to create 23,000 jobs.

Promoters Premursa are putting up half the money for the park, scheduled to open in 2015, and are seeking investors for the rest.

The park is expected to feature an adjacent “Life Style Center” with an auditorium and business park, among other features.

Its projections are for 3 million visitors a year. Some attractions will be based on Paramount movies such as “Titanic” and “Mission Impossible”.

Alhama de Murcia is 430 kilometers (270 miles) southeast of Madrid.

Based on reporting by The Associated Press.

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