VISAKHAPATNAM: Hospitality giant Oberoi Group has agreed to develop a seven-star facility at Annavaram under Bhimili mandal, about 20 kms from here.
“Representatives of the group visited the site and in principle agreed to invest in a big way,’’ said managing director S Satyanarayana.
Talking to Deccan Chronicle on Friday evening, Satyanarayana said Oberoi group will initially invest Rs 350 crore in an extent of 50 acres.
Incidentally, the Oberoi group built their first hotel in Gopalpur in Odisha, about 300 kms from Visakhapatnam.
Meanwhile, another hotel project is coming up at Rushikonda after demolishing the existing Haritha project. The process of demolition began on Friday. Sources in the tourism ministry said the hotel having an area of 15 acres might be run under one of the subsidiary groups of Oberoi chain.
Satyanarayana said that DEC group was the lowest bidder and was awarded the redevelopment project at a cost of Rs 92 crore. The other bidder was Nagarjuna Group. The work was awarded to DEC in a reverse tendering process.
After completion of the project, expected in 15 months as per the tenders, the area would become one of the major tourist attractions in Andhra Pradesh. Rushkonda is also tagged with Blue Flag and the Rs 28 crore TTD-built Lord Venkateswara Temple close to the resort is also opening in a week’s time.
Another mega project Vizag Aquarium is coming up at Thotlakonda area at a cost of Rs 300 crore. Sources said that DEC has also been awarded another hotel at Tirupati.