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Wonderla Inks Land Deal For Rs 115 Cr Amusement Park With Odisha Govt; Check Details

By
OB Bureau

Bengaluru: Bengaluru-headquartered amusement parks operator Wonderla Holidays has signed an agreement with the Odisha government for leasing 50.63 acre for a period of 90 years towards development of an amusement park project at Kumarbasta village in Khurda district, on the outskirts of Bhubaneswar.

Wonderla is planning a Rs 115-crore investment project based on an asset-light business model, the firm said in a communication to BSE on June 30.

“The Odisha government had invited Wonderla Holidays to their state to set up an Amusement Park in Bhubaneshwar. The Tourism Department, Idco and Khurda district administration have been very helpful, in particular. The government has been giving us a lot of favourable terms and a lot of incentives are being given for us to set up the park in Bhubaneshwar. We thank the Chief Minister of Odisha  Naveen Patnaik for his visionary leadership towards making this project a reality. The funding for the project will be a combination of internal accruals and some debts according to internal reports,” said Managing Director, Wonderla Holidays, Arun K Chittilappilly.

Notably, Amusement park operator Wonderla Holidays Ltd had, in 2019, said that it was keen on building an amusement park in Odisha.

The company opened its first park in Kochi in 2000, the second one in 2005 in Bengaluru and the third one in Hyderabad in 2016. The amusement park at Bhubaneswar will be its 4th in India.

 

OB Bureau

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