Ocean Park Group to invest Rs 15 cr on three projects

Visakhapatnam: The Hyderabad-based Ocean Park Group has started work on its three projects – a film studio, an amusement park and farm houses – at Jeerupalem village and they may be completed within a year or so, according to Mr J. Lakshminarayana, the Executive Director.

At a press meet here on Tuesday, he said the foundation stone for the projects had been laid on Monday and “We will expedite work on them. We have got the approvals and other pre-requisites for the projects.”

Mr Lakshminarayana said the film studio would be constructed on 63 acres and it would have indoor and outdoor studios. There would be water sports as well. The project cost would be Rs 15 crore. A hotel also would be built at the site for the comfortable stay of the film personnel.

He said the amusement park, to be built at a cost of Rs 10 crore, would have theme parks, water parks and drive-in facilities.

Prestige Blues, the farm house project, would be taken up on 73 acres. Each farm house, built on 500 sq yards, would cost Rs 30 lakh.

Mr Lakshminarayana said the group was taking up another project – Prestige Golf City – in the vicinity of Denkada village, 37 km from Vizag, and the foundation stone for it would be laid later this month. It would have a golf course, club house, gardens and “it will be situated on the banks of Champavati river.”

He said it was the first time Ocean Park was taking up such major projects outside Hyderabad, though it had a small presence at Guntur. He said the work was going on in seven major projects in Hyderabad and one in Bangalore (Prestige Towers).