Ferrari has chosen Spain as the home for the first European theme park devoted to the Prancing Horse brand.
The fun park is to be built inside the Port Aventura resort near Barcelona at a cost of US$139 million.
It is scheduled to open in 2016.
The plan follows the success of Ferrari World in Abu Dhabi in the United Arab Emirates which includes the Formula Rossa, billed as the world's fastest roller-coaster.
The Spanish park will occupy about 75,000sq m, with numerous Ferrari-related attractions, a 250-room hotel and a driving simulator. It is designed to cater for a million visitors a year, half of them from outside Spain.
