The Italian city of Bologna is set to become home to a US$55m (€40m, £33.4m) “foodie theme park” intended to celebrate the finest facets of Italian cuisine.

The joint venture between Italian food-emporium chain Eataly – which boasts 26 stores worldwide, including a New York City megastore co-owned by renowned gastronomist Mario Batali – and the Municipality of Bologna is expected to be served up in November 2015 and will cover 86,000sq ft (7,900sq m).

The land, which currently houses several abandoned warehouses, has been provided by the city-controlled Centro Agro Alimentare. It is to be transformed into Fico Eataly World – a theme park featuring restaurants, grocery stores, food labs, an aquarium and several other food-themed features.

Speaking to Italy's online news service the Agenzia Nazionale Stampa Associata, Eataly founder Oscar Farinetti expressed his excitement and announced his ambition to lure over 10 million visitors a year to his attraction, inviting them to "play with this magical thing: Italian food.”

With tourism one of Italy’s major strengths – more than 46 million visitors spent US$32.1bn (€23.3m, £19.3m) in Italy in 2012, according to the UN World Tourism Barometer – the “Disneyland for food” marks the latest in a series of projects aiming to convert the country’s heritage into a money-making antidote for Italy’s ailing economy.

In an interview for the latest edition of Attractions Management magazine, Italian entrepreneur Alberto Zamperla announced his intention to create a new cultural attraction in the heart of Venice, spotlighting the city’s rich history.