×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Unitech and partner to pump Rs1,600 cr for new entertainment ground

Unitech and partner to pump Rs1,600 cr for new entertainment ground
Comment E-mail Print Share
First Published: Wed, Mar 07 2007. 04 23 PM IST
Updated: Wed, Mar 07 2007. 04 23 PM IST
PTI
NEW DELHI: Real-estate major Unitech and promoters of India’s first amusement park Appu Ghar, International Amusement Ltd, are jointly setting up two entertainment parks in Noida and Rohini with an investment of about Rs1,600 crore.
The joint venture company to be called International Recreation Parks Pvt Ltd (IRPPL), has tied up with global media conglomerate Turner Inc’s children entertainment channels Cartoon Network and Pogo to provide a specific themes to the amusement parks.
“We would invest Rs1,200 crore on the Noida project and around Rs400 crore on the Rohini project to build state-of the art amusement parks in Delhi and its neighbourhood. We are running the Rohini park on a trial basis while the Noida project is expected to be operational by mid of this year,” IRPPL Managing Director Rakesh Babbar told PTI.
He said the park would feature over 30 different rides and attractions, which will be supplied by leading European manufacturers including Zamperla of Italy who also supply rides to Disney, Universal Studios and Six Flags.
The projects would be funded through a mix of resources including debt, equity and internal accruals, Babbar said.
Noida park, which would have a built area of 150 acres, would be divided into two zones — amusement park and commercial — with 85% of the site dedicated to the amusement park and the remaining 15% for commercial purposes.
The first phase of operations in Noida, expected to be complete at an investment of Rs600 crore in July, would include a Teen Zone and a lifestyle centre. The second phase will include the opening of rest of the amusement park and a premium brand retail section — Garden’s Galleria.
Comment E-mail Print Share
First Published: Wed, Mar 07 2007. 04 23 PM IST