VISAKHAPATNAM: Hospitality big Oberoi Group has agreed to develop a seven-star facility at Annavaram below Bhimili mandal, about 20 kms from right here.
“Representatives of the group visited the location and in precept agreed to put money into an enormous means,’’ stated managing director S Satyanarayana.
Speaking to Deccan Chronicle on Friday night, Satyanarayana stated Oberoi group will initially make investments Rs 350 crore in an extent of fifty acres.
By the way, the Oberoi group constructed their first lodge in Gopalpur in Odisha, about 300 kms from Visakhapatnam.
In the meantime, one other lodge venture is arising at Rushikonda after demolishing the prevailing Haritha venture. The method of demolition started on Friday. Sources within the tourism ministry stated the lodge having an space of 15 acres is likely to be run below one of many subsidiary teams of Oberoi chain.
Satyanarayana stated that DEC group was the bottom bidder and was awarded the redevelopment venture at a price of Rs 92 crore. The opposite bidder was Nagarjuna Group. The work was awarded to DEC in a reverse tendering course of.
After completion of the venture, anticipated in 15 months as per the tenders, the realm would turn out to be one of many main vacationer points of interest in Andhra Pradesh. Rushkonda can be tagged with Blue Flag and the Rs 28 crore TTD-built Lord Venkateswara Temple near the resort can be opening in every week’s time.
One other mega venture Vizag Aquarium is arising at Thotlakonda space at a price of Rs 300 crore. Sources stated that DEC has additionally been awarded one other lodge at Tirupati.