Visakhapatnam is all set to be the site for a major boom as the LuLu Group and other firms forge ahead with major plans here.The date for laying the foundation stone for Vizag’s much-awaited convention centre has finally been announced. It has been learned that Chief Minister Nara Chandrababu Naidu will be laying the foundation stone for this prestigious project in the city on 26th February.
While addressing the media persons recently, Visakhapatnam district collector Pravin Kumar informed that the process of taking lands from private players, for the purpose of the convention centre has reached the final stages. Reportedly, the CMR group, which owns 3.5 acres of land near Viswa Priya Function Hall on the Beach Road, has given its land to the Andhra Pradesh government for the development of the convention centre. The convention centre, which is deemed to be the biggest in the state, will be spread over 14 acres of land, including 10.65 acres of APIIC land and 3.5 acres of private land. In return, the state government will be giving suitable land areas in the city to the private firm. The city’s convention centre will be proceeding under the Private Public Partnership (PPP) with an estimated investment of around Rs 730 crore.
Middle-east giant, LuLu Group International has major plans for development in Visakhapatnam. The group has planned to develop an international convention center, five-star hotel, multiplex, and shopping mall at the APIIC facility at Harbour Park in Visakhapatnam.
The collector has also informed that the officials are planning to beautify the stretch from RK beach to Bheemili.