Companies

Shapoorji Pallonji Group in race for $1.8-b theme park in the UK

Our Bureau Mumbai | Updated on July 06, 2020 Published on July 05, 2020

The group is one of the four international bidders for the project

The Shapoorji Pallonji Group has bid to build one of the biggest theme parks in the UK. The deal size could be around $1.8-2 billion, according to industry sources.

The project will be one of the largest construction projects across Europe involving 30,000 people and a multi-billion pound investment that will transform seven million square meters of land, on the banks of the Thames.

Two theme parks and a resort water park will be set up over 535 acres. The bespoke entertainment district, including the provision of 3,500 hotel rooms, will be devoted to a full-suite of hospitality experiences.

When contacted, Shapoorji Pallonji Group declined to comment but an industry source confirmed that the Indian conglomerate is one of the four international bidders for the project.

The London Resort is led by Chief Executive PY Gerbeau and the Board is chaired by Steve Norris. The project was first mooted in 2012 but has been subject to endless delays. Now the resort is expected to be completed by 2024. It will comprise of six different land parcels, based on its partnerships with the BBC, ITV Studios and Paramount Pictures.

If Shapoorji Pallonji Group wins the bid, it will be the second Indian company to be part of a British project in recent times. Last week Sunil Mittal-backed Bharti Enterprises won a bid to acquire 45 per cent stake in OneWeb satellite, which has proposed a mega-constellation of satellites in low-earth orbit to deliver affordable wireless Internet services globally. Bharti Enterprises will invest $500 million in OneWeb.

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Published on July 05, 2020
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