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Six Flags has announced that the Texas Giant at Six Flags Over Texas will close down for renovation in 2010.

The $10 million renovation will be undertaken so that a new version of the ride will be ready for the 2011 season, when the park will celebrate its 50th anniversary. Six Flags has also promised that another major attraction will open at the park in 2011, along with new attractions at all of the company's 20 parks.

The news means that readers wanting to experience the current version of the Texas Giant should get down to the park during the 2009 season. The ride opened in 1990 and was the tallest and fastest wooden rollercoaster in the world at the time, but has gained a reputation for offering a bumpy, violent ride. The park has said it aims to make the coaster "smoother and faster" when it reopens. It will be the second time the ride has been renovated, with a previous renovation taking place nearly ten years ago.

News of the massive investment is significant given the recent rumours that Six Flags may be facing bankruptcy. The company, which operates parks across North America, is seeking a deal to restructure its debt, with a payment of $300 million due to holders of preferred stock this year. It remains to be seen how this will impact on the planned investments at Six Flags' parks.

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