The Moschanko Invesment Group of Los Angeles has received permission from the Russian government to move ahead on a $4 billion theme park. The North Hollywood themed attraction design firm Goddard Group will design The Magical World of Russia as a major destination resort and theme park that will reflect Russian and other international cultures. Chairman Gary Goddard said the park will be a destination unique to Russia and the world. “Using Russian folklore, legends and history, we are actively working to make this a theme park that will reflect the culture and lore of Russia – and one that will be built to a quality level equal to, or better than, any other world-class theme park today,” Goddard said in a prepared statement. The Magical World of Russia will be built on 544 acres between the Moscow and Kaluga regions of Russia. It will be funded by private investors led by Moschanko Investment Group. “I am happy to see my long-held dream of creating a true theme park and resort for Russia finally becoming a reality,” said Gene Moshkovich, the founder of Moschanko Investment Group, and the leader of the consortium tasked with developing and managing the project, in a prepared statement. “From the moment I had my first idea for this park and resort, I never doubted it would be realized.” The project has received the support of Russian President Vladimir Putin and Anatoly Artamonov, governor of the Kaluga region southwest of Moscow.