Wonderla Holidays Ltd announced the signing of an agreement with Odisha government for the development of an amusement park project in Bhubaneshwar.
Wonderla has leased a 50.630-acre land for 90 years in the village of Kumarbasta, Khorda district in Bhubaneshwar, Odisha. Wonderla is planning for a 115-crore investment project based on an asset -light business model.
"The Odisha Government had invited Wonderla Holidays to their state to set up a park in Bhubaneshwar and have been very helpful. They have been giving us a lot of favourable terms and a lot of incentives are being given for us to set up the park in Bhubaneshwar. The funding for the same will be a combination of internal accruals and some debts according to internal reports," said Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays.
Wonderla Holidays operates three Wonderla brand amusement parks in South India. The company opened its first park in Kochi in 2000, second one in 2005 at Bengaluru and third one in Hyderabad in 2016.