The Rs 1,000-crore group is setting up a film studio on 63 acre and an amusement park, including sea sports, on 15 acres besides a 100-room hotel to accommodate film personalities at Jeerupalem, about 70 km from Visakhapatnam.
"We have acquired 150 acres of land at Jeerupalem to set up a studio and an amusement park. The group is investing Rs 25 crore in these two projects excluding the land cost," Jupudi Lakshmi Narayana, executive director, Ocean Park Multitech Limited, told the media here on Tuesday.
The two projects would be ready in a year. This apart, Ocean Park is developing beach farm houses and farm plots on 73 acres.
In the second phase, the group is planning to develop a golf city on 150 acre at the Denkada village near Bhogapuram, he said.