ta Atlanta plans to develop Asia's largest theme park in Surat | Vinay Umarji & Kalpesh Damor / Mumbai/ Ahmedabad Nov 22, 2011, 00:38 IST | |
In what could give a major fillip to Gujarat's tourism industry , Mumbai-based Atlanta Ltd . an infrastructure development and real estate company, has received in principle approval from the state government to set up a USD 2 billion (Rs 10,412 crore) theme park in Surat.With the first phase of the project set to begin in April 2012, the theme park has been cleared by the Gujarat Industrial Development Board and Gujarat Tourism Board and the state cabinet is expected to give a final go head in a few weeks. Atlanta, which is active in emerging sectors like road projects, is in talks with World’s biggest theme-park operator is likely to partner in the project. | BSE | | | NSE | | Price | | | | | | | | | Also Read | | | | Related Stories | | | | News Now | | | | | - | OZ bets on Indians to triple tourism revenue | - | Plan panel, tourism ministry want 4-fold rise in sector outlay | - | F1 may turbo-charge tourism | - | Abu Dhabi tourism body eyes India after 7-city Europe tour | - | Incredible India attracts over 400,000 foreigners in June | - | ITDC posts 32% rise in sales in Q4 at Rs 105 cr | | | | |
"We are in talks with the likes of Wonderland in Canada, Sentossa of Singapore, Disney and Malaysia's Genting for strategic partnership. However, we will finalise on a partner once we get the necessary approvals. We may also allow private equity players to participate," saidRajhoo Bbarot , managing director, Atlanta Ltd.The project will be spread across 3200 acres, all of which the company will buy from the Gujarat government at market price. The site identified at Suvali Beach, which has a 3.3 km stretch along the Arabian Sea coast, is located around 20 km from Surat will have five theme parks like nature park, amusement park, water park, beach park, ice skating and skiing dome, restaurants, hotels, studios, forest villas, beach villas, studio lagoon and apartments and villas among others. It will also provide air taxi helicopter services from major cities.The initial investment in the theme park will be about USD 2 billion, which comprises of land development cost, building facilities, transport, technologies, design and planning. The project cost also includes interest during construction.In fact, the entertainment city may be bigger than Disneyland in California, Paris and Tokyo and is expected to be fully operational in three to five years. The site is expected to attract 10 million tourists every year from India and abroad. Disney World in Florida attracts about 45 million tourists every year.While the market research and financial model is being done by Ernst & Young (E&Y), the conceptual plan is done by Morphogenesis, apart from a foreign investment banking house also being mandated by the company.“International Theme Park Consultants’ bet on India’s rising middle class to fuel growth, after the global financial crisis hurt spending in the US and Europe. The Asia-Pacific region is the fastest growing area by sales for Disneyland, the California based company. There were other options also in Sindhudurg, Maharashtra and near Mysore in Karnataka but Suvali was taken up due to its moderate climate and convenient transportation network, which requires moving a large number of tourists in and out. Moreover, there are no issues of displacement as the land is barren,” said Bbarot.The world’s biggest theme-park operator - Walt Disney and China recently partnered to invest about $4.4 billion building a first theme park in mainland China in Shanghai after it opened Hong Kong Disneyland in 2005.The entertainment company’s second amusement park - The Shanghai Disney Resort (around 4 square km with a room to expand) in the world’s most populous nation will open in about five years.The project will be financed by a mix of equity and debt. The fund would be constituted by infusion from promoters and debt from financial institutions, advances and deposits received from franchises of hotels, commercials, residential, food plazas and revenues from villas and apartments.Earlier, Atlanta, which has a pan India presence, also has to its credit the first Greenfield BOT project of Udaipur Bypass in 1996. |

Atlanta to develop Rs 9,500-crore theme park in Surat
PTI Nov 27, 2011, 11.42am IST

Tags: * Mumbra Bypass| * Atlanta Tourism Ventures| * Atlanta Ltd.
MUMBAI: Gujarat has roped in the Mumbai-based infrastructure and real estate firm Atlanta to jointly develop a Rs 9,500-crore theme park in Surat.
Atlanta, through its special-purpose vehicle, Atlanta Tourism Ventures, has signed a memorandum of understanding to set up an eco-friendly entertainment city at Suvali in Surat.

"Under the public-private partnership project, Gujarat has granted an in-principle nod for the project last week. The 3,500-acre salty land near the Arabian Sea coast is owned by the state and is offered to us for setting up the theme park," Atlanta executive director Rikiin Bbarot told PTI here.
The first phase of the project is set to begin April next and will be financed by a mix of equity and debt, he said.
Atlanta, which is active in sectors like roads, is in talks with the world's biggest theme park operators to partner the project.
"The project will be in line with the world-renowned theme parks of Sentossa of Singapore, Disney and Malaysia's Genting. We will finalise a partner, once we get the necessary approvals," Bbarot said, adding the project will be spread across 3,500 acres and will have five theme parks.
Atlanta has focus in infrastructure projects such as highways on EPC/BOT basis, mining and real estate projects. Currently, it is operating two PPP toll highway projects--the Mumbra Bypass and Nagpur-Kondhali section. Recently, it bagged a Rs 917-crore BOT project from Bihar.

Gujarat Cheif Minister Shri Narendra Modi today laid foundation stone for Rs 200 crore public private partnership project of high tech amusement park in Surat.
The project is designed by Australian multinational company Sanderson group. Same company has designed 22 theme parks across the world including Sentosa island’s Universal studio, Tokyo’s Disney land, USA’s Universal studio and Australia’s Warner Brothers movie world theme park.
The 15-acre theme park will be opened for public in April 2014.
The theme park will have five divisions; Filmistan(a theme park), Toonpur(for kids), Yuva Nagri(for teens), Prem Nagri(for adults).
It will also have a water park, snow park(a hill), bird park(jungle), food an entertainment street(Surti gali).
It will have 7D theater, 100-room four star hotel. Five star club with bowling alley, pool table, swimming pool, health spa, cricket line, badminton etc.
Surat Municipal Corporation has planned this park in Magob-Dumbhal area.
If it comes in real, Mumbai based Essel World will lose almost half of its total revenue. That’s damm truth because major chunk of tourist visitors of Essel World heils from only Gujarat. Our schools and colleges have only option of ESSEL world for picnic tours. CM has rightly think to set up an Amusement park in Gujarat which was extreamly necessary for fun loving Gujaratis. Now, this park will give tough competition to Essel world and that it desearves.
Now Gujarat people will not have to elast their self all the way to Maharastra to have amusement facility.
Though this park is too small scale, it could have bigger like Disney, Sentosa or Universal studio. After all, Gujarat tourism is boost.

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