BHUBANESWAR: Bengaluru-based Wonderla Holidays Limited will set up an amusement park on the outskirts of Bhubaneswar. The property will be developed as one of the biggest parks in the country on a 50 acre patch of land at an investment of `115 crore.
The company has signed an agreement with the State government for leasing of land for a period of 90 years for the amusement park on an asset-light business model at Kumarbasta village in Khurda district.
The asset-light business model enables promoters for transferring capabilities, such as people, process and technology for transition of fixed costs to a variable cost structure, enhance agility and facilitate shift of resources. This will be the fourth amusement park of the company in the country after Kochi, Bengaluru and Hyderabad.
The proposed park will be a compact one compared to others owned by the company and is expected to be operational within two years. Managing Director of Wonderla Holidays Arun K Chittilappilly said the company has decided to develop the facility following an invitation by Odisha government to set up an amusement park in Bhubaneswar.
“The Tourism department, IDCO and Khurda district administration have been helpful in getting the land parcel and the government has been giving us incentives to set up the park. We thank Chief Minister Naveen Patnaik for his support,” he said.The proposed park in the State will have various facilities and themes so that people entering the property will spend an entire day without getting bored.
The company had first opened Wonderla park at Kochi in 2000, the second one at Bengaluru in 2005 and the third at Hyderabad in 2016. It has also set up a resort in Bengaluru. Apart from amusement parks, Wonderla Holidays’ segments include resort, sale of merchandise, cooked and packed foods among others.