After months of silence following the grand announcement of two US$3.5bn (€3.1bn, £2.3bn) theme parks in Texas and Alabama, the company behind the project has said further plans will be announced by the end of the year after a company restructuring.

When the DreamVision Company’s website expired earlier this week, speculation was rife that the ambitious project was over before it had even begun.

But on Thursday (24 September) Provident Global Capital, the company behind DreamVision, announced a new division known as PGC entertainment.

Among other entertainment-related investments, PGC entertainment will oversee both previously announced DreamVision parks in Alabama and Texas.

In an official statement, the company said DreamVision “is undergoing a corporate restructuring” and that Provident Global Capital “remains a dedicated partner”. The statement, titled “Theme Park Plans Still Ongoing” also said that land acquisition negotiations are underway for both parks and on track to be announced by the end of the year.

According to details revealed at a press conference in February, DreamVision Mountain, Dreamscape, Texas’ is to be built on 20sq km (7.8sq m) of land in the Fort Worth area. Expected to open in 2020, the year-round winter wonderland will include shops, restaurants, a transportation centre, a performing arts centre, an entertainment version of New York City known as Dreamscape Metropolis, a similar Hollywood version known as Dreamscape Tinseltown, Nadia's Storybook Land and a Wild West experience.

Scheduled to open in 2019, DreamVision Soundscape – which will build upon the musical heritage of Muscle Shoals – will cover 2.2sq m (5.7sq km) and is being developed simultaneously with the Texas project.

As with the Texas park, DreamVision Soundscape will be anchored by a central ‘mountain’ with surrounding musically-themed neighbourhoods showcasing country, pop, gospel and jazz, among other genres. Announced rides include the Soundscape Singing River, a rollercoaster, drop ride Slide Guitar and Oceanica – a domed water playground. Also included will be performance venues, golf courses, hotels and retail outlets.

“We remain excited about the projects that DreamVision has started and we look forward to continuing to work on them,” said Bryan Robinson, CEO of Provident Global Capital. “Provident Global Capital continues to invest in entertainment-related projects, and the creation of PGC Entertainment will help us continue to serve these partners with a clear focus on the entertainment space.”