Universal Studios is planning to set up a new theme park in Saudi Arabia, the Wall Street Journal (WSJ) reported on Friday. The report added that the Comcast subsidiary is preparing initial concepts for the park, which may be financed by an entity backed by the Saudi government as part of a licensing deal with Universal. “Comcast Chief Executive Brian Roberts visited Saudi Arabia last month for an investment conference and visited the entertainment and sports megaproject Qiddiya, where the possible Universal park would be built,” the report said citing unnamed sources with knowledge of the matter. Saudi Arabia is diversifying its economy as part of Vision 2030 to gradually wean it off oil and invest in other sectors, including tourism. On December 31, the country’s first theme park Six Flags Qiddiya City is set to open in Riyadh.