Remember the Harbour Park land opposite to Ramakrishna Beach in Visakhapatnam?
This 13.59 acres of prime land on this beach road was given on lease by the previous Chandrababu Naidu government to Lulu Group of United Arab Emirates for the construction of an international convention centre and a five-star hotel in the name of attracting foreign investors.
Now, the Jagan government, which had cancelled the lease agreement with the Lulu Group soon after coming into power in 2019, is planning to construct commercial complexes and residential apartments in the same land.
The chief minister took a decision to this effect at a meeting held at his camp office on Monday. The proposed buildings would become prestigious projects for Viskahapatnam, an official release from the chief minister’s office said.
The proposal for the construction of commercial and residential complexes was made by the officials of the National Buildings Construction Corporation Ltd (NBCC) and AP Industrial Infrastructure Corporation.
They said the new projects would fetch a revenue of at least Rs 1,450 crore net income to the government.
In February 2018, the Lulu Group signed the agreement with the state government for developing an international convention centre, a five-star hotel and a mall at the leased site.
However, in October 2019, the Jagan Mohan Reddy government terminated the project on the ground that it was not viable.
