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Agri Gold unveils Rs. 200-cr. plan for city

By Our Staff Reporter



Dharamapuri Srinivas (right), Andhra Pradesh Minister for Rural Development and Employment, K. Srinivasa Gowda, Agriculture Minister, V.R. Sudarshan, Chairman of Legislative Council, launching Agri Gold products in Bangalore on Sunday. V.R. Rao Avva s, Chairman of Agri Gold, is seen. — Photo: V. Sreenivasa Murthy

BANGALORE, NOV. 28. The Hyderabad-based Agri Gold group, with interests in seed and food processing, healthcare, cosmetics, power, media and insurance, has planned to invest Rs. 200 crores on two projects on the outskirts of Bangalore.

At the group's grand ninth anniversary celebrations at an amusement park here, the group chairman, V.R. Rao Avvas, said the group would acquire 250 acres of land on Hosur Road for the projects.

Agri Gold Joyland, an amusement park-cum-resort-cum-health centre, would come up on 50 acres. The group has tied up with Australian company, Sanderson Consulting, for preliminary studies on the entertainment project.

According to the Vice-President (Planning) for Agri Gold Estates and Entertainment, Bhaskar Reddy, the group would tie up with healthcare players, say, in the Ayurveda segment, here. "We will push healthcare tourism in a big way. And the entertainment section will not just be about rides. It will be theme-based. There will be a resort zone where people can stay," he said on the sidelines of the function.

The group had formed a consortium for the project and Agri Gold Joyland would be operational in about a year's time. The housing project would come up on 200 acres. Land acquisition was still on. Once the two projects were up and running, the group would look beyond Bangalore. "The Government of Karnataka is very positive where tourism projects are concerned. That is why we have come here," Mr. Reddy said. Mr. Avvas said the entertainment sector was new for the group. "We believe that man needs food, health and entertainment to live well. That is why we have entered this business," he said. Ministers from the Governments of Andhra Pradesh and Karnataka and politicians from the two States were present at the function. Some 12,000 of Agri Gold's employees (with their families) as well as the group's customers, dealers, distributors and marketing executives turned up.

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