A comprehensive tourism project with an estimated cost of Rs 2,000 crore (Rs 20 billion) will come up on a 1,000 to 1,200 acre site along the beach near Visakhapatnam. The proposed project, christened as 'Destination Vizag', would be a world-class hospitality, leisure, life style and entertainment centre.
A Memorandum of Understanding to this effect was signed between Vizag Beach Resorts Private Limited and the State Tourism Department in the presence of Chief Minister Y S Rajasekhara Reddy in Hyderabad on Tuesday.
The Vizag Beach Resorts Private Limited, with their network partners from the US, UK, Spain, Kuwait and Dubai, who have expertise in developing and financing mega tourism projects, golf courses and water parks, would take up the development of the proposed project.
The project envisages the construction of a five-star hotel, hotel complexes, beach resort, golf courses, health spa, multi-theme parks, therapeutic dolphin park, convention & exhibition centres, multiplexes, mega shopping malls, along with a fleet of classic and luxury cars, marine helicopters and sea planes (amphibians).
The project would also take up community development activities in Visakhapatnam. It would take up cleaning and maintenance of the 30 KM coastline, improving amenities in the local community clusters and increasing the amenities in the existing Zoological Park.
Once the project is completed, there is a likelihood that inflow of foreign tourists would increase. About 45,000 foreign tourists per annum would visit on an average and would help the government to earn foreign exchange to the tune of Rs 550 crore (Rs 5.5 billion) per year. Revenue contribution to the local economy of Rs 112 crore (Rs 1.12 billion) per annum on an average through shopping and allied services is also expected.
The chief minister said that the state government is committed to develop Visakhapatnam as an international tourist destination with world-class leisure and entertainment facilities for Indian and foreign tourists.
The state government has also drawn up plans, some of which are in operation to train manpower to run such projects and to provide employment opportunities. Visakhapatnam city would be developed as one of the preferred business and tourist destination of the world.
