Global investors keen on tourism projects in the state, says APTDC chief

Swiss firm to be part of proposed Sky Tower project in Vizag with ₹100 crore investment

Swiss firm to be part of proposed Sky Tower project in Vizag with ₹100 crore investment

Andhra Pradesh Tourism Development Corporation (APTDC) Chairman A. Varaprasad Reddy said on Friday that many international companies have expressed their willingness to set up tourism projects in the state.

Mr. Varaprasad Reddy has just returned after attending the “Europe Expo 2022” organized by the International Association of Attractions and Amusement Parks (IAAPA) in London from September 12 to 15, where he spoke with representatives of various global companies on the opportunities offered by the State.

More than 500 manufacturers, designers and operators of amusement parks, theme parks, water parks and family entertainment centers participated in this four-day event which also included seminars, conferences, expert meetings industry and training sessions.

Mr Reddy said he met with representatives of various companies and explained to them the wide range of opportunities available in the state to invest in the tourism sector, the incentives and support provided to investors under the new policy. tourism of Andhra Pradesh, availability of state land banks for tourism projects, details of the long sea coast, scenic, religious and historical sites and the vision of Chief Minister YS Jagan Mohan Reddy.

The head of the Tourism Corporation said he invited them to be part of the story of tourism growth in the state, telling them about the different partnership models the state government was considering. They included direct investment by foreign companies, investment through joint ventures and consortia, project support through technology transfer and the provision of equipment to entrepreneurs throughout the state, the provision of credit for projects undertaken here and the training of the workforce by international experts under skills development programs.

He said he met with representatives of Intamin Worldwide of Switzerland, a leading manufacturer of amusement rides and monorails. “This venture would be part of the proposed Sky Tower project in Visakhapatnam with an investment of ₹100 crore,” he said.

With Turkey’s Polin Group, a world leader in water parks and aquariums, Mr Reddy discussed the proposed tunnel aquarium project in Visakhapatnam at an estimated cost of ₹100 crore. German ride maker Huss Park Attractions was set to develop amusement parks in the state and Canada’s Aerodium would be part of the upcoming skydiving project in Gandikota, he said.

Aerophile and Extremeventures from France, NeverPlast from Italy, DOF based in Turkey, WhitewaterWest from Canada, Attraction from Switzerland and Concept 1900 from France were other companies keen to invest in projects in the state, he said. declared.

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