The Gulf-based LuLu Group International is planning to invest in three major projects here – a world-class convention centre, a five star hotel and a multiplex – on the beach road in the Harbour Park area of Visakhapatnam. In addition to the convention centre, a modern shopping mall will also be built.
The LuLu group is expected to complete the project in phases with a total investment of over Rs. 700 crores in three years. Infrastructure Corporation of Andhra Pradesh (INCAP) has already issued two notifications to seek expression of interest from prospective developers to take up the project.
The project will be taken up in the public-private partnership model.
AP Industrial Infrastructure Corporation at present has 10.65 acres.