Hong Kong officials say they have signed an agreement for a $1.4 billion expansion of the southern Chinese city's Disneyland theme park.

The government said Tuesday the plan calls for adding two new themed areas, based on the movie "Frozen" and Marvel superhero characters, to Hong Kong Disneyland.

The park's castle will also be renovated under the expansion scheduled to run from 2018 to 2023.

The announcement follows the June launch of Shanghai Disneyland, a $5.5 billion resort that many had feared would siphon off mainland Chinese visitors to the Hong Kong park.

Investment will be divided according to ownership, with the Hong Kong government, which owns 53 percent of the park, contributing $748 million. Walt Disney Co. will put in the remaining $658 billion.