AP govt. likely to sign MoU for 3 tourism projects during Global Investment Summit

Tuesday, February 21, 2023

It is expected that the upcoming Global Investment Conference will bolster Visakhapatnam’s tourism initiatives. Many tourism projects were approved by the state cabinet in its meeting on May 4, 2021, but they are yet to materialise.

However, this is soon going to change as 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’.

Furthermore, if sources are to be believed then 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 tunnel Aquarium will be developed with a Rs 250 crore investment in collaboration with Turkey-based Polin Aquariums, while the Sky Tower offer comes from Switzerland-based Intamin Worldwide with a Rs 100 crore investment. Pax Russia is expected to spend Rs 243 crore in the Eye on Vizag project. The three projects are expected to be built on the Mangamaripeta beachfront, around 20 kilometres outside the city.

The mega-sized wheel, comparable to the London Eye, might be a public-private partnership (PPP). This would be India’s first giant wheel project and one of the top ten in the world. In terms of capacity, 440 people can ride at the same time, and 176 people can eat while riding.

As per sources quoted by Deccan Chronicle, “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 wheel will be so powerful that it will be able to resist storms and earthquakes of up to 8.3 magnitude. The project is expected to be built on 15 acres of land at Kapuluppada’s S No 314/P on the beach road.
The Vizag Aquarium, India’s third public aquarium facility, will be built on the Vizag beach road in a turtle-shaped, themed structure, embodying the concept of turtle conservation. The floor size will be around 27,000 square feet, and guests will be able to stroll 230 metres within. The project will include the country’s first under-water restaurant.

The Sky Tower PPP project is expected to cost roughly Rs 100 crore. When finished, the skyscraper will be the highest in Asia. This may be seen from any part of the city.

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