Wonderla Holidays is set to open its third Indian amusement park in Hyderabad next month.
The Business Standard reports that the new park, which will cost INR2.5 billion (US$37.6 million) to develop, will be spread across 20 hectares of land and will feature a series of rides and attractions, including a reversing roller coaster.
The company currently operates two amusement parks in Kochi and Bengaluru, attracting around 2.5m visitors per year. The company raised INR1.8bn from initial public offering (IPO) to build the theme park in Hyderabad.
Wonderla is also planning to spend INR1.5bn upgrading its Bengaluru facility and about INR500m on the park in Kochi, adding new attractions. It is also aiming to open a Chennai theme park in 2018, which is expected cost up to INR3.5bn.
“In the first year we hope to attract 700,000 visitors and this will eventually reach our projected target of 1.2m visitors in fourth or fifth year into operations,” Arun K Chittilappilly, managing director of Wonderla Holidays, was quoted saying about the Hyderabad park.
He added that Wonderla has received invitations from several state governments to set up similar facilities, and would consider projects in Maharashtra and Gujarat in future.