Film producer Manmohan Shetty- promoted Adlabs Entertainment’s first theme park Adlabs Imagica, situated on the Mumbai-Pune Expressway which is scheduled to open for public from April 18.
The company is aiming to set up a second theme park in Hyderabad by the end of the year, a top company official said.
“We have already signed on the project. If everything goes well, then we will look at setting up the next theme park in Hyderabad by the end of the year. This will be about 60 per cent of the present park (Mumbai) in terms of investment and will be spread over about 60 acres,” Shetty said after announcing the formal opening of the Imagica theme park.
Spread over 300 acres, Adlabs Imagica, has been built with an investment of about Rs 1,200 crore.
“In the next one year, we are looking at starting a water park and hotel, which will take the total investment in the project to Rs 1,650 crore,” he added.
The theme park has 21 international standard rides, including one based on Bollywood film ‘Mr India’.
Recently, media reports suggested that Disney has ruled out investing in a theme park in the country citing lack of support infrastructure apart from high investments required as also the long-term sustainability of the park.
According to Andy Bird, chairman of Walt Disney International, theme park investment requires massive support infrastructure, which are still not available in the country.
“Opening a theme park anywhere in the world is incredibly expensive and is highly complex business. Walt Disney is investing USD5 billion in Shanghai in a new theme park, which excludes infrastructure,” Bird was quoted saying.
(with inputs from agencies)