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Good response to investors meeting
The response to the investors meeting convened by the AP Tourism Development was highly encouraging. Around 33
Visakhapatnam: The response to the investors meeting convened by the AP Tourism Development was highly encouraging. Around 33
investors from various parts of India, particularly from New Delhi and Mumbai attended the meeting and evinced interest mostly in the
hotel sector. Executive Director of AP Tourism Development Corporation R Sreeramulu Naidu said most of the investors were keen on
developing high end hotels on the beach front and sought remedies to get to CRZ approval from the Central government without much
delay.
Among the investors representatives of ITC group, Sai Priya Resports from Rushikonda and APBL from Mumbai were present. APBL has
already completed the project in Marripalem which would be opened in January next year. Similarly, CMR group is raising a hotel at
Gajuwaka by investing Rs 125 crore, which they said would be completed in one year.Their mega project worth Rs 375 crore would
begin next year, the ED said.
Meanwhile, the government has issued a GO sanctioning Rs 1.90 crore for construction of jetty at Bhimili for seaplane project and
tenders would be called soon, he added. “The meeting discussed lot of tourism projects but the investors were keen only in investing in
hotels,’’ Naidu said.
