Entertainment parks player Imagicaaworld Entertainment Ltd on Monday said it will set up a new destination at Sabarmati riverfront in Ahmedabad at an investment of Rs 130 crore.
The park will be set up across 11 acres of land which will be on lease from Sabarmati Riverfront Development Corporation Ltd (SRFDCL) for 30 years, extendable for a further period on mutually agreed terms, Imagicaaworld Entertainment said in a regulatory filing.
'The project entails an overall investment of Rs 130 crore, including any sub-lessee and alliance partner capex,' it added.
The offerings include multiple indoor and outdoor attractions, apart from food and beverages offerings, the company said.
'The location is expected to commence operations in two years from ground-breaking and all requisite approvals,' it added.
'The partnership with SRFDCL reflects our shared vision of enhancing the city's recreational landscape and promoting tourism and high quality of entertainment for Amdvadis and tourists and create delightful memories with world-class experiences,' Imagicaaworld Entertainment Managing Director Jai Malpani said.
Imagicaaworld Entertainment owns and operates Imagicaa holiday destinations and offers a gamut of experiences through its theme park, water parks, snow park and hotel under the brands Imagicaa, Aquamagicaa, Snomagica and Novotel Imagicaa.
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