Central Amusement International (CAI) has unveiled detailed plans for a new amusement park on Coney Island, New York, US.

CAI will lease a 6.2-acre piece of land from the city of New York for a ten-year period and invest nearly US$30m (€22m, £19m) to build and operate the park.

Scheduled to open by Memorial Day 2010 (31 May), the park will be built in two stages.

During the first phase this summer, CAI will open Luna Park at Coney Island, which will feature 19 rides, including one - Air Race - that will make its worldwide debut at Coney Island.

The second phase, opening by summer 2011, will be named Scream Zone at Coney Island and will provide additional attractions, including two custom roller coasters, a human slingshot ride, and go-karts.

CAI is working with Italian ride manufacturer Zamperla on the project.

In total, Zamperla will supply 23 new rides, designed to celebrate Coney Island's unique history and character while adding modern amusements.

The new park is part of the city's Coney Island Revitalization Plan, which will preserve and grow the historic amusement area and create a vibrant mixed-use neighborhood with new retail options and nearly 5,000 new units of housing.

In total, the plan is expected to generate more than US$14bn (€10.2bn, £8.9bn) in economic activity for New York City over 30 years.

As part of planned infrastructure improvements, the City will invest $6.6m (€4.2m, £4.8m) in site preparation and basic infrastructure to support the ongoing redevelopment of the neighborhood.

CAI's investment of around $30m (€22m, £19m) will include US$3m (€2.2m, £1.9m) for additional site preparation, more than US$15m (€11m, £9.5m) to open Luna Park and more than $12m to open the Scream Zone.

Mayor of New York, Michael Bloomberg, said: "Coney Island remains one of the most known and beloved neighborhoods around the world, but for decades its famed amusement park has dwindled to just a tiny fraction of what it once was. This summer, we're reversing that trend.

"As part of our revitalisation plan for Coney Island, passed by the City Council last year, we're making necessary infrastructure investments and joining with CAI to build new amusements that celebrate Coney Island's historic past."

Luna Park and the Scream Zone will more than double the acreage currently utilized for amusements in Coney Island, with Luna Park encompassing 3.16 acres on the former Astroland site and the Scream Zone covering an additional 3 acres.

CAI was selected to operate the park after the City Council put the contract out to tender in November 2009.

According to the City Council, the proposal submitted by CAI was selected based on the "strength of its amusement and entertainment programming; a clear understanding of the redevelopment objectives put forth in the Coney Island Comprehensive Plan; the economic impact of the proposal; the development's financial feasibility; the team's qualifications and safety record; and an innovative approach to site design and planning respecting Coney Island's history and culture".

CAI will pay a base rent to the City of US$100,000 per year for each year of its term.