After laying the foundation stone for retail major Lulu Group’s one of the largest projects in the public-private partnership mode in February, 2018, work on the international convention centre, a five-star hotel and multiplex has been launched.
The UAE-based group put up huge hoardings and deployed heavy earth machinery to carry out civil work on the land allotted to it at Harbour Park with a beachfront view.
The prestigious project aimed at showcasing Visakhapatnam as a hub for Meetings, Incentives, Conferencing and Exhibitions (MICE) tourism will have an international convention centre with a 7,000 seating capacity, 20 lakh square feet shopping mall and a luxury hotel, a source in the LuLu Group has told The Hindu.
Job provision
The company has promised to provide over 5,000 direct and 5,000 indirect jobs mostly to local people. This will be the largest integrated project with convention centre and other associated facilities in A.P. and one of the biggest in the country.
The project will involve an investment of ₹2,200 crore. Over 13 acres has been allotted to LuLu Group after acquiring a part of a private function hall to give a beachfront view to the project. As part of the deal, the private function hall owner has been given sites at various places in the city as part of compensation.
With fine dining concept and food courts with 2,500 seating capacity, the mall will become home for 200 national and international brands, a hypermarket, family entertainment centre, 11-screen multiplex and over 20 F&B outlets. The State government has signed the MoU with the group after facing problems in organising huge meetings like CII Partnership Summit, India International Seafood Fair and AgTech Summit by brining AC hangers from Chennai.
Delay in work launch
The launching of work has commenced a year behind schedule and as per the original plan it should have been completed within 36 months from the stone-laying ceremony. Now it expected to be operational from 2022. Enquiries with the AP Industrial Infrastructure Corporation (APIIC), the nodal agency which facilitated the signing of deal with LuLu Group, have revealed that the company has recently submitted the drawings to its head office. The agreement is likely to be signed in a week or two.
