Got a need for speed? Why not plan a trip to the Spanish coast and put the pedal to the metal at Ferrari Land?

The luxury car firm Ferrari has announced plans to open its first European theme park at the PortAventura resort near Barcelona.

The Italian sports car maker, which already owns the world's largest indoor theme park and boasts the world’s fastest rollercoaster in Abu Dhabi, United Arab Emirates, plans to open the Spanish Ferrari Land theme park in 2016.

"After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks,” Andrea Perrone, CEO of Ferrari Brand, said yesterday in a release. "We carefully sifted through the various proposals…It is a very solid plan developed by competent people that will bring the magic of Ferrari to Spain, a nation where we have many supporters and enthusiasts, and to which large numbers of tourists flock each year."

Ferrari says the 46.6-square-mile park will be home to a five-star, Ferrari-themed  resort and a huge vertical roller coaster, which the company claims will be the "highest and fastest" in Europe.

The PortAventura park is already home Europe's tallest coaster, the Shambhala that reaches 249.3 feet into the sky, so Ferrari has some work cut out for itself. Here's to hoping they can pull it off.