The state of Andhra Pradesh has reportedly attracted one of India's largest foreign investments ever in the entertainment sector. The UK based Eros Investments Ltd, which is a subsidiary of NYSE-listed Eros International Plc, has reportedly inked Memorandum of Understanding.
This is for establishing a mega entertainment city in Vizag city involving a record sum of $5-10 billion which is approximately Rs. 30,000-60,000 crore. As a part of its proposed India Entertainment City, Eros International Plc is all set to build media city.
This would be accompanied by commercial and residential complexes, amusement park, hotels, leisure options as well as healthcare facilities. AP CM Naidu reportedly expressed his happiness that the proposed investment by Eros would offer a fillip to tourism.
He is confident that this would create employment and added infrastructure while also ushering in investments into Andhra Pradesh. The rate at which Vizag is heading to become a hot destination for investments, it is sure to overtake Hyderabad in no time.
