Andhra Pradesh Tourism Department Signs Major Rs 100 Crore Amusement Park Deal in Visakhapatnam
The Andhra Pradesh tourism department has taken a significant leap forward in its mission to elevate the state's tourism sector to international standards. In a landmark move, the department has finalized an agreement for a substantial Rs 100 crore investment to develop a world-class amusement park and resort in Visakhapatnam, commonly known as Vizag.
Memorandum of Understanding Signed at IAAPI Expo-2026
The formal Memorandum of Understanding (MoU) was officially signed by Tourism Minister Kandula Durgesh with representatives from M/s Modern Masti Private Limited. This important signing ceremony took place during the Indian Association of Amusement Parks and Industries (IAAPI) Expo-2026, which was held in Mumbai on Thursday. The agreement marks a crucial step in bringing a state-of-the-art entertainment facility to the coastal city of Visakhapatnam.
Project Details and Employment Opportunities
The ambitious project will be established on a sprawling 50-acre land parcel, strategically located to maximize its appeal to both domestic and international tourists. The development plans include the construction of 100 luxurious rooms within the resort component, providing premium accommodation options for visitors. Beyond the entertainment value, this project is expected to generate significant economic benefits by creating direct employment opportunities for approximately 300 people, contributing to local job creation and economic growth in the region.
Part of Swarnandhra Tourism Vision 2047
This initiative represents a key component of Chief Minister Nara Chandrababu Naidu's comprehensive 'Swarnandhra Tourism Vision 2047'. According to Minister Kandula Durgesh, the project aims to transform the entertainment sector into a prominent symbol of the state's broader tourism development strategy. The vision seeks to position Andhra Pradesh as a premier tourism destination through strategic investments in world-class infrastructure and attractions.
About Modern Masti Private Limited
Minister Durgesh provided detailed background information about the company behind this investment. M/s Modern Masti Private Limited was established in 2017 with its headquarters located in Gwalior, Madhya Pradesh. Despite being founded relatively recently, the company brings nearly nine years of specialized experience in the entertainment sector to this partnership. Operating under the broader Modern Group umbrella, the company manages various entertainment ventures including amusement parks, gaming zones, restaurants, and resorts under their well-known 'Masti Land' brand. The company's leadership team boasts an impressive collective experience of over 40 years in the amusement and entertainment industry.
Visakhapatnam as an Emerging Tourism Hub
Minister Durgesh emphasized that Visakhapatnam is rapidly evolving into a global coastal tourism destination. He extended a formal invitation to additional investors, encouraging them to consider establishing mega amusement parks and other entertainment facilities in the city. The minister reiterated the state government's strong commitment to developing world-class entertainment infrastructure throughout Andhra Pradesh, creating an environment conducive to tourism growth and investment.
Support Under New Tourism Policy
This project will benefit significantly from the recently introduced 'New Andhra Pradesh Tourism Policy 2024–2029'. Under this progressive policy framework, the Andhra Pradesh Tourism Department (APTA) has committed to expediting all necessary approvals and clearances required for the project's successful implementation. The policy offers several attractive incentives to investors, including:
- Up to 25% fixed capital investment subsidy
- Industrial tariff-based electricity supply
- 100% net SGST reimbursement
These incentives are designed to make Andhra Pradesh an exceptionally attractive destination for tourism-related investments while ensuring projects can be implemented efficiently and effectively.
