Wonderla Holidays signs MOU with the Andhra Pradesh government to set up its fifth amusement park


Wonderla Holidays signs MOU with the Andhra Pradesh government to set up amusement park

Bangalore/ Hyderabad, India – September 16, 2015:                   

Highlights:
·         MOU signed with Hon Chief Minister of Andhra Pradesh, Mr. Chandrababu Naidu to set up a large scale amusement park and resort in Andhra Pradesh
·         Investment of 250 crores for the upcoming property
·         First phase to be completed by 2019 and second phase by 2020
·         Expected to generate 500 jobs in the first phase and 200 more jobs after the completion of second phase
·         Park and resort expected to be build in an area of 50 acres

Bangalore based amusement park operator Wonderla Holidays Limited announced an investment of Rs. 250 crore in the next five years in Andhra Pradesh. Wonderla has signed MOU with the Andhra Pradesh government. This investment will be used to set up a large scale amusement park in Andhra Pradesh.

The MOU has been signed by the Andhra Pradesh government and is expected to help creating 500 jobs after the first phase is over and 200 jobs after the second phase. Wonderla plans to build an amusement park at a land parcel of 50 acres between Guntur and Visakhapatnam in Andhra Pradesh. The project will be funded through internal accruals.

"We are happy to partner with the Andhra Pradesh government to bring in world class amusement park and resort to the state. It is emerging as one of the key destinations for industrial investments and hence hosts a huge potential for our industry too. This partnership will help us strengthen our footprints in South India. " said
Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd.

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