The Jammu and Kashmir administration has initiated the process to appoint consultancy firm for setting up India’s best mythological theme park in Katra.
Talking to The News Now, Ranjan Prakash Thakur, Principal Secretary, Industries & Commerce, J&K, said, “Consultancy firm appointment process has been initiated to commence the Katra Theme Park project. When completed, the state-of-the-art theme park will help increase economic activity, generate direct and indirect local employment, benefit local stakeholders as well as increase the overall experience of the tourists visiting the holy town of Katra.”
The theme park is coming up near one of the most visited religious destinations of India, Shri Mata Vaishno Devi, in Reasi district, with an objective to cash in on annual footfall in Crores and provide space for recreational activities post Darshan. For this, three possible sites have been identified, two near the shrine and one near Katra Bus Stop. It will have full connectivity, and a wide ambit of indoor-outdoor activities for art and entertainment, sports, merchandise, rides, gaming, food, business, hotels, and stays.
“Highlighting the mythology, complete with adventure, education and entertainment, the theme park will be an attractive vacation option for families,” Thakur believes.
For this no less than ‘dream project’ to be developed under Public Private Partnership mode (PPP), the Government had invited proposals and laid out the benefits, such as capital investment incentive of 30% on investment of up to Rs 5 crore, working capital interest incentive of 5% per annum for existing units for five years maximum up to Rs 1 crore, Goods and Service Tax-linked incentive equal to 100% of the gross GST for 10 years maximum up to 300%, and capital interest subvention of 6% per annum for a maximum of seven years on a loan amount up to Rs 500 crore for investment.
The project will have the highest ROI in the Country with up to 350% benefit, the government had said.
Additionally, the J&K Government will provide support for clearances and approvals, water at Rs 0.50 cubic meter, Power starting at Rs 3.85 per unit, incentives on stamp duty, green industrialization, and a contract valid for 25 years with a provision of extension.
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