Business Daily from THE HINDU group of publications Friday, Jul 21, 2006 |
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Corporate
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Alliances & Joint Ventures Variety - Resorts & Amusement Parks International Recreation ties up with Turner for Noida park Debdatta Das
New Delhi , July 20 International Recreation Parks Pvt Ltd, a joint venture between Unitech and International Amusement Ltd, has entered into a licence agreement with Turner Networks, owner of Cartoon Network, to develop the children's section of its recreation park, Noida Entertainment Park. According to the agreement, five per cent of the total sales from the amusement park section of the entertainment city will go to Cartoon Network annually. The section will be called `Townsville' and will be modelled on popular characters from Cartoon Network.
Different zones
The entertainment city, spread over 147 acres, has been divided into two sections - malls and amusement. The amusement section has been further divided into three zones; `Townsville' for children, `Music Festival' for teenagers and `Festival World' for the entire family. Like Townsville the other two zones will be theme specific, including food courts. `Music Festival', in addition to the rides will have live musical performances.
Malls
Meanwhile, the two malls will house 150 retail outlets and `Garden's Galleria', the boutique mall, will house a 200-room hotel, for which the company has tied up with JW Marriott. In addition to these, a 14-acre water park and a 50 metres high `Icon Tower' has also been planned. "We are planning to make the first phase operational by September 2006. This phase has been allocated Rs 400 crore of the total investment of Rs 1,200 crore," said Mr Rakesh Babbar, Managing Director, IRPPL. He added that a new zone will be made operational every six months there on. The tickets will be in the range of Rs 200-1,000 depending on the number of zones one wants to visit. There will also be a weekly pass for Rs 1,000, since it would take nearly three days for a person to cover the entire place.
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