Middle East-based LuLu Group International will build a world-class international convention centre, a five-star hotel and multiplex at beach-facing APIIC grounds, Harbour Park here, on the model of Hyderabad International Trade Expositions (Hitex).
In addition to the convention centre, a long-awaited need for the City of Destiny to host international meets and promote Meetings, Incentives, Conferencing, Exhibitions (MICE) tourism and the star hotel, the Vizag’s prestigious project will also have an ultra modern shopping mall.
When contacted, Principal Secretary, Energy, Infrastructure and Investment, Ajay Jain told The Hindu on Tuesday that the LuLu Group, which has diversified business activity, including imports, exports, shipping and a hypermarket chain, would complete the project in phases with a total investment of over ₹700 crore in 36 months.
Infrastructure Corporation of Andhra Pradesh (Incap) has already issued two notifications to seek expression of interest from prospective developers to take up the project.
A team from LuLu Group is expected to visit the city to take stock of the situation after which a formal agreement will be signed between the government and the group. The project will be taken up in PPP mode. AP Industrial Infrastructure Corporation at present has 10.65 acres.
CMR offer
According to highly-placed sources, CMR Group, which owns a function hall on the beach front, has agreed in principle to forego 3.5 acres for the convention centre project.
In lieu of the surrender of the land, the government might give land to land compensation in the vicinity or offere equity in the project. The issue figured recently at a meeting held by Chief Minister N. Chandrababu Naidu.
For want of an international convention centre, two editions of CII Partnership Summit-cum-Sunrise AP Investment Meet were organised at the APIIC grounds by using AC hangers. Mr. Naidu, on several occasions had regretted the non-availability of an international convention centre in Visakhapatnam-the largest city with cosmopolitan culture and robust industrial base in AP. Though expression of interest was sought in the past for construction of international convention centres in 20 acres at Mudasarlova and 58 acres at Madhurawada during the UPA regime, the project could not take off due to procedural wrangles and lack of willingness from investors.
