Global Investment Summit aims to boost tourism sector in Vizag

Update: 2023-02-20 18:44 GMT
Special chief secretary Y. Srilakshmi reviewed the preparations being made in Visakhapatnam city and its environs for the global meeting. (FIle Photo: DC)

HYDERABAD: The upcoming Global Investment Summit is expected to give a boost to the tourism initiatives in Visakhapatnam. The state cabinet had approved several tourism projects at its meeting on May 4, 2021 but they are yet to take off.

Of these, three important projects have come to the fore now due to interest evinced by foreign investors. Three US-based NRIs have tied up with foreign companies to develop a sky tower, a tunnel aquarium and a giant wheel that might be named 'Eye on Vizag'.

They plan to develop the tunnel Aquarium with an investment of Rs 250 crore in partnership with Turkey-based Polin Aquariums, while the Sky Tower offer is from the Switzerland-based Intamin Worldwide that  would involve an investment of Rs 100 crore. Pax Russia is likely to invest Rs 243 crore for the Eye on Vizag. All the three projects are likely to come up on the Mangamaripeta beach front, about 20km from the city.

The project proponents are expected to sign the MoU with the AP government during the Global Investment Summit on March 3 and 4 in Visakhapatnam.

The mega giant wheel, similar to the London Eye, could be a joint-venture in PPP mode. This would be the first mega wheel project in India and one among the top 10 in the world. As for its capacity, 440 persons can take a ride at a time and 176 persons can avail dining facilities during the ride.

“People can have a panoramic view of the city with a colourful and picturesque reflection in the sea and this would be an eye-catcher from a long distance,’’ industry source said. The height of the wheel would be 125 metres, with all occupants being placed in air conditioned cabins with glass floors,” the sources said.

The wheel will be so strong that it can withstand hurricanes and earthquakes upto 8.3 magnitude. The project is likely to come up in 15 acres of land in S No 314/P in Kapuluppada on the beach road.

AQUARIUM: The second project, the Vizag Aquarium, will be India’s third public aquarium facility coming up in a turtle-shaped, themed building, symbolizing the concept of turtle conservation, on the Vizag beach road.

The floor area will be about 27,000 sq-feet and visitors can walk 230 metres inside. The project will have India’s first under-water restaurant.

The Sky Tower project under PPP mode is estimated to cost around `100 crore. After completion, the tower will be the tallest in Asia. This can be viewed from any part of the city.

“These three projects will attract tourists from all parts of the country,’’ said a tour operator. Around one crore tourists arrive in Visakhapatnam every year.

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