Rs 2,000-crore LuLu global convention centre in Vizag
The international convention centre proposed with an estimated investment of Rs. 2,000 crore at the APIIC Grounds in Vizag is likely to be a reality in the next three years. Chief Minister Mr. N. Chandrababu Naidu, in the presence of Vice-President Mr. M Venkaiah Naidu and Union Civil Aviation Minister Mr. P Ashok Gajapathi Raju laid the foundation stone for the convention centre on the inaugural day of the CII Partnership Summit in Visakhapatnam last week.
The facility which will be built by the UAE-based LuLu Group, will have a five-star hotel and a mall on a 13-acre site. The centre will be utilised for the Meeting, Incentive, Conferencing and Events (MICE), a segment of tourism in which large groups, usually planned well in advance, are brought together for a particular purpose.
The project will be grounded under the Public-Private Partnership (PPP) mode. The centre coming up on Beach Road in the Harbour Park area will have seating capacity for 7,000 people, a shopping mall with 20 lakh sft area and a luxury hotel, the Chief Minister said after the stone laying ceremony.
Heaping praises on LuLu Group CMD Yusuf Ali, Naidu urged the latter to finish the project in 30 months. “The project will be completed in three years and it will create more than 5,000 direct employment, apart from indirect employment to 5,000 more. We are planning to complete this project by 2021. It will also provide a world-class shopping experience to both tourists and the residents of Sunrise State,” Ali said.The LuLu Group has made investments worth $2 billion (Rs 14,000 crore) in India and is looking for possibilities for more investment avenues in retail, hospitality and food processing sectors.