Comments
The Gulf-based LuLu Group International is planning to invest in three major projects here - a world-class convention centre, a five star hotel and a multiplex - on the beach road in the Harbour Park area, according to sources.
A team from the group is likely to visit the city soon before signing agreements with the State Government. In addition to the convention centre, a modern shopping mall will also be built.
Ajay Jain, the Principal Secretary, Energy, Infrastructure and Investment, said the LuLu group would complete the project in phases with a total investment of over Rs 700 crores in three years. Infrastructure Corporation of Andhra Pradesh (INCAP) has already issued two notifications to seek expression of interest from prospective developers to take up the project.
The project will be taken up in the public-private partnership model. AP Industrial Infrastructure Corporation at present has 10.65 acres.
The lack of a world class convention centre is felt sorely by the State Government for holding major events here.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.