$840 million theme park announced for Mexico's Maya Riviera

Developers in Mexico have announced plans for an $840 million theme park on the country's Caribbean coast just north of the resort city of Playa del Carmen.

The park will be named "Amikoo," the Mayan pronunciation of "amigo," or friend.

Many of its attractions will include cartoon characters representing figures adapted from Mexican culture.

Rides will include the "Pirates of Bacalar," referring to a coastal lagoon to the south where pirates once lurked.

Located along the turquoise-hued coast, the park will have a wave pool, virtual tours of the sea and air, hotels and a shopping mall.

Developers said Monday that the first phase of the park is to be completed by late 2018.