Eros proposes a Rs 60,000 cr entertainment city in Vizag !! Inks MOU with AP govt !!

The Andhra Pradesh government on Saturday announced that it had entered into an agreement with the UK-based Eros Investments Limited (EIL), a subsidiary of NYSE-listed Eros International Plc, to set up an Entertainment City in the state.“The government of Andhra Pradesh and Eros Investments Limited (EIL) Isle of Man, UK, on Saturday inked a memorandum of understanding (MoU) to set up a multi-billion dollar entertainment city ,“ a release issued by the AP government said.According to the release, the entertainment city will comprise a media city , an amusement park, commercial and residential spaces, hotels and leisure and healthcare facilities. This apart, the integrated media city will have pre-production and post-production fa cilities for film, TV and advertising industries, the release added. However, the AP government did not specify the location where the Entertainment City is slated to come up. AP tourism officials said it was too early to comment on the specifics as they are yet to zero in on an ideal location.Commenting on the development, AP chief minister N Chandrababu Naidu said that the proposed project will give a huge fillip to tourism and create employment, infrastructure and usher in investments into the state. “The Entertainment City will house hospitality clusters and attract large number of tourists which will bring in revenue in the service sector in the state,“ he added.The deal was signed by AP special chief secretary (tourism) Chandana Khan and EIL official Subodh Agarwal in presence of the chief minister.====================================================================

The facility is most likely to come up in Kapuluppada where the government has 1,750 acres of land.
The multi-billion dollar worth entertainment city will have a media city, amusement park, commercial and residential complexes, hotels, leisure options and healthcare facilities. The valuable land has been lying vacant due to a  case pending in the state High Court after APIIC cancelled the land allotment to 2G scam accused Unitech Pvt Ltd in 2011. It may be mentioned  here that APIIC has no other suitable site in and around Vizag to construct  such a mega facility.
APIIC is now keen to settle the dispute out of  court as soon as possible to utilise the land  with a beach view. “We don’t want such valuable land which has potential to be developed in a big manner to go unused and are contemplating an out of court settlement if possible,” revealed a top official of APIIC.
In 2007, the then government had allotted the 1,750 acres in Kapuluppada to Unitech to develop an Integrated Knowledge City. After  Unitech Ltd was accused in the 2G scam, APIIC cancelled its agreement with the infrastructure giant fearing attachment of its properties by the ED. Challenging the cancellation of allotment Unitech approached the High Court in 2011.
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You can read the Eenadu report HERE. 

Andhra Jyothy states that Qatar has come forward to invest heavily in AP. That report is reproduced here. 

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One thought on “Eros proposes a Rs 60,000 cr entertainment city in Vizag !! Inks MOU with AP govt !!

  1. Pingback: Tourism development is fine and welcome, but kindly keep casinos away from Vizag !! | Andhra Nation

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