The Hindu : Tamil Nadu / Chennai News : Barnala stresses need for wooing more investments in theme parks

Online edition of India's National Newspaper
Monday, May 07, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Barnala stresses need for wooing more investments in theme parks

Staff Reporter

By 2020, the number of amusement parks may touch 500

NEW ATTRACTION: Governor Surjit Singh Barnala at the Kishkinta amusement park in Tambaram, where he inaugurated the `Water Volcano' on Sunday. — Photo: A. Muralitharan.

TAMBARAM : Tamil Nadu Governor Surjit Singh Barnala on Sunday stressed the need for a transparent and "well-strategised approach" to woo more investments in amusement parks.

There was scope for the stakeholders in the sector to deliver in areas such as innovation in the joy rides and with regard to developing well-diversified revenue models and "complete exploitation of the merchandising potential."

Mr. Barnala was speaking at the inaugural function of `Water Volcano' at Kishkinta amusement theme park here.

Significant activity

Noting that amusement parks could generate significant economic activity, the Governor said the sector in the country had become organised in the early 1980s and at present, there were over 100 amusement parks and 100 family entertainment centres. The total investment on them was around Rs. 2,000 crore.

By 2020, the number of amusement parks was expected to touch 500 involving "huge investments," he said. On the concept of amusement parks, Mr. Barnala said they constituted a small but important segment in the entertainment sector and required concrete policy support and governance to ensure that "growth potential was not frittered away."

According to senior executives of Kishkinta, the new facility at the Park has been established at a cost of Rs.2.5 crore. The Park, they added, was adding a new facility every year during the summer.

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