ADAG, Universal Studios plan $1.5-bn theme park in India
31 Jul 2010
Anil Ambani's Reliance ADA Group (R-ADAG) is in talks with Universal Studios to replicate its movie-themed amusement park in India, The Wall Street Journal reported on Thursday.
The park that is estimated to cost $1.5 billion spanning over 400-acre to be located either in New Delhi or Mumbai, will be among the biggest theme park in the world.
The park would in the same lines as Universal's parks in Los Angeles, Orlando, Singapore and Japan but with an Indian twist, and will include a variety of roller coasters, rides, shops with movie-related merchandise and nearby hotels.
Universal Studios is also building a $2.7-billion theme park in Hwaseong City, 40 kilometres south of South Korea's capital city Seoul, which includes a golf course, condominiums, water park and resort, touted to be the largest theme park in Asia. (See: Universal Studios revives $2.7-billion resort in South Korea)
According to the Journal, R-ADAG would wholly own the venture but would pay a royalty and fees to Universal for using content linked to popular movies like Jaws, E.T, Spider-Man and the Harry Potter franchise.
Reliance is reported to have received government blessings for the project as it will create jobs and host about 50,000 visitors a day.
Some reports said that the theme park is likely to come up at the Mumbai western suburb of in Goregaon-home to Bollywood Film City.
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