The document profiles an amusement park project proposed for 10 locations in Gujarat, India. It details the project description, market drivers, suggested capacity and costs, financial indicators, location selection, timeline, infrastructure needs and required approvals. The proposed amusement parks would feature various rides and attractions with a total investment of Rs. 1,600 million across locations catering to over 4,000 visitors daily.
The document profiles an amusement park project proposed for 10 locations in Gujarat, India. It details the project description, market drivers, suggested capacity and costs, financial indicators, location selection, timeline, infrastructure needs and required approvals. The proposed amusement parks would feature various rides and attractions with a total investment of Rs. 1,600 million across locations catering to over 4,000 visitors daily.
The document profiles an amusement park project proposed for 10 locations in Gujarat, India. It details the project description, market drivers, suggested capacity and costs, financial indicators, location selection, timeline, infrastructure needs and required approvals. The proposed amusement parks would feature various rides and attractions with a total investment of Rs. 1,600 million across locations catering to over 4,000 visitors daily.
The document profiles an amusement park project proposed for 10 locations in Gujarat, India. It details the project description, market drivers, suggested capacity and costs, financial indicators, location selection, timeline, infrastructure needs and required approvals. The proposed amusement parks would feature various rides and attractions with a total investment of Rs. 1,600 million across locations catering to over 4,000 visitors daily.
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Project Profile on Amusement Park
Mott MacDonald iNDEXTB
Sector Sub - sector Profile No. Project Title
Tourism Adventure TR - 03 Amusement Park at Saputara, Junagadh, Bhavnagar, Porbander, Valsad, Navsari, Rajkot, Jamnagar, Champaner (Pavagadh), Bharuch/ Ankleshwar
Project Description Amusement Parks generally refer to theme-based parks like Essel World, Water parks and Disney Land. New creative thoughts could be studied and
implemented like Scary parks, etc. Currently, a wide range of amusement parks are available in Gujarat out of which only water parks have become popular. More different theme based parks need to be set up in the coming years. The features of an Amusement Park in general are Roller Coaster, Great Poseidon, Flame ride, Giant wheel, Fun house, Horror house, Maze, Niagara, Paratrooper, Air fighter, Striking cars, Navsari Porbandar Champaner
Saputara
Jumping Seat, Vintage cars, etc.
Market and Growth Drivers
Market The target market for the amusement park is the domestic and foreign Tourist. The major subsections are foreigners, NRG/NRI, upper class domestic tourists and week end tourists from the city. Due to large number of local /weekend tourist, this demand is generally found to be high during weekends, festivals and public holidays. Table: Tourist inflow into Gujarat in 2005 Foreign Tourist (Nos) Domestic Tourist (lakh) Places of Interest/ Circuits
Connectivity Road Excellent Rail Excellent Air Inadequate
Pavagadh. Chorwad, Keshod, Porbandar, 30.57* 2680 Prabhas, Satadhar, Sasangir, Somnath, Tulsi Veraval. * includes day time tourist of religious places, Source: GITCO Shyam, Girnar. Mangrol, Excellent Excellent Good
Increase in number of foreigners visiting India due to the Brand India which offers everything that a foreigner wants viz Heritage, Adventure, Culture, Wild Life, Pilgrimage, etc. As per World Travel and Tourism Council (WTTC), the number of foreign tourists visiting India has grown from 3.46 million in 2004 to 3.92 million in 2005.
Government of India (GOI) estimates the global population of Non Resident Indians (NRIs) at around 20-25 million. This sector of population regularly visits India. A major chunk of this population is the NRI of Gujarati origin popularly known as NRG. Off late there is a substantial increase in NRIs/NRGs visiting India. The main reason being the strong bonding to the native land and culture.
TR-03
Project Profile on Amusement Park
Mott MacDonald iNDEXTB
According to the Department of Tourism (DOT - GOI), there are more then 7.2 Million Indians traveling abroad every year. There is a substantial increase in these numbers every year and is estimated to be growing at more than 15 %.
According to DOT GOI, the total population of Domestic Tourism in the year 2004 was 367 million. There was an increase of 19 % over the previous year. It is expected that domestic tourism will grow robustly in the future owing to the rising income levels and economic growth.
The tourist growth rate in Gujarat is around 40 %.
Why Gujarat?
Suggested Capacity & Project Cost
The projected amusement park at multi locations can support crowd capacity of around 4,000 people / day. The investment for this size of the project would be around INR 160 million (US $ 3.6 million). Considering 10 locations, the total investment in this sector works to around INR 1,600 million (US $ 36 Million).
TR-03
Project Profile on Amusement Park
Mott MacDonald iNDEXTB
Project Cost Particulars Land & Site Development Building Machineries / Equipments Vehicles Office Equipments Furniture & Fixtures Preliminary & Pre-Operative Exp. Provision for Contingencies Total Capital Cost of Project Total, Rs. Million 22.0 25.0 95.0 2.0 2.5 5.0 0.9 7.6 160.0
Means of Finance Particulars Equity Total Long Term Borrowings Total Means of Finance Amount (Rs. Million) 48.00 112.00 160.00
Major Financial Indicators The major financial indicators on 10 year working basis are: Indicator Gross Profit margin Net Profit Margin ROI Average DSCR IRR Average for Project 51.43% 26.07% 46.45% 3.68 32.20%
Suggested Location The locations suggested for setting up of the Amusement Park are Saputara, Junagadh, Bhavnagar, Porbander, Valsad, Navsari, Rajkot, Jamnagar, Champaner (Pavagadh) and Bharuch / Ankleshwar.
TR-03
Project Profile on Amusement Park
Mott MacDonald iNDEXTB
Project Time Line
The approximate time duration required for the establishment of this type of project is around 6-8 months.
Major Infrastructure Required
Connectivity: Good Rail, Road and Air connectivity to the location is the major infrastructure requirement for the project. Land Availability: As the project is in the hospitality sector, Land availability at prime location is a major factor for the success of the project. It is very difficult to predict the land cost for the project as location and availability would be very critical components while calculating the land prices. Built up area: The total built up area required for the project is around 25,000 Square feet. The cost of construction is taken as Rs.1000/Sq Feet. Utilities Requirement: The major requirements of utilities are power, water and sanitation facilities.
Clearances Required Environment clearance from Gujarat Pollution Control Board Water and Power supply Registration as commercial establishment with the required state/district authority
Agencies to be contacted Industrial Extension Bureau Mott MacDonald India Tourism Corporation of Gujarat Limited
