The Government of Andhra Pradesh has signed an MoU with G&C Global Consortium Pvt. Ltd to set up an integrated mega tourism infrastructure development project.
The company, in joint venture with Jayanath Agri Farms Pvt. Ltd, will set up the project in an extent of 48.57 acres, strategically located at the confluence of the Krishna and the Paleru rivers at Muktyala village near Jaggayyapeta in Krishna district.
The total estimated cost of the project is Rs 218 crores and it is integrated with a world-class ‘Mixed-Use Infrastructure” spread across an area of 310 acres.
State Tourism Commissioner Rajendra Prasad Khajuria and founder CMD of G&C Global Consortium A.V.R. Chowdary signed the MoU.
The proposed Tourism Destination Development Project, christened ‘Alakananda Riverfront’, will be positioned as the gateway of the Amaravati capital region, connecting the capital region of Andhra Pradesh with Telangana State and Hyderabad city, in particular.
The project envisages cultural, heritage, spiritual, wellness, MICE, eco and adventure tourism components with an integration of hospitality, leisure, recreation and entertainment concepts.
The project is also about an array of components such as ‘wellness tourism’ with an AYUSH health spa, a green eco resort, a recuperation centre, rehabilitation and rejuvenation centers and an exclusive wellness centre for senior citizens; Botanical Gardens with a herbal garden; ‘MICE Tourism’ with convention and exhibition centers; urban / rural haat with a handicrafts bazaar; spiritual and Buddhist tourism with cultural and heritage centres and museum;
The integrated project will also encompass hospitality, leisure and entertainment projects with a 3-star hotel and serviced apartments; amusement theme parks; riverfront development with water sports and water fleet; a sports and recreation club with adventure sports and games; a mini golf course; a family entertainment center (FEC) with food courts and restaurants etc.
This project is said to create direct and indirect jobs to more than 10,000 people.
G&C Global firm is a real estate wealth management and development group in India and abroad. It has conceived the project along with one of its group companies and special purpose vehicle M/s Shree Estates in joint venture with Jayanath Agri Farms Pvt. Ltd. K. Lakshminarayana, Chief Consultant and Director, Andhra Pradesh Project Facilitations and Consultancy Services Ltd. (Empanelled Management Consultants with Government of Andhra Pradesh) and Executive Officer of AP Tourism Development Corporation Mallikarjun Rao and others were present.