Published on : Friday, December 21, 2018
The tourism project, which will have a Bollywood theme, will be developed on 82,950.5 sqm area belonging to the Mahindra Group on its plot in suburban Kandivali, according to a recent Government Resolution (GR).
As per the state tourism policy of 2016, an ultra mega project would require a capital investment of Rs 500 crore and to employ 750 people and complete it in 84 months.
The GR said since the Mahindra Group’s project fulfils the criteria, it was accorded the ultra mega project status.
During the Magnetic Maharashtra investor summit here in February, Mahindra Group Chairman Anand Mahindra had said they were exploring to set up a unique film-centric entertainment destination on their land at Kandivali as Mumbai is the heart of Hindi film industry.
This will create hundreds of direct and indirect jobs, he had said.
Mahindra already runs a successful tour and leisure services company Mahindra Holidays.
A high-powered government committee had earlier this year accorded it the ultra mega project status.
Tags: Mahindra Group