AP govt signs Rs 100 crore MoU for amusement park and resort in Vizag

Visakhapatnam: The Andhra Pradesh tourism department took another significant step towards elevating the tourism sector to an international level by making an agreement for an Rs 100 crore investment in a major amusement park and resort in Vizag. The MoU was signed by the Tourism minister Kandula Durgesh with M/s Modern Masti Private Limited at the Indian Association of Amusement Parks and Industries (IAAPI) Expo-2026 in Mumbai on Thursday, for the development of a state-of-the-art amusement park and resort in Visakhapatnam. The project would be set up on a 50-acre land parcel that will feature 100 luxurious rooms and is expected to provide direct employment opportunities for 300 people.As part of Chief Minister Nara Chandrababu Naidu's 'Swarnandhra Tourism Vision 2047', this project aims to make the entertainment sector a key symbol of the state's tourism growth, minister Kandula Durgesh said. "Established in 2017 with its headquarters in Gwalior in Madhya Pradesh, M/s Modern Masti Private Limited has nearly 9 years of experience in the entertainment sector. Under the Modern Group, they operate amusement parks, gaming zones, restaurants, and resorts under the 'Masti Land' brand. The company's executives have over 40 years of extensive experience in this field," minister Durgesh explained.Minister Durgesh stated that Visakhapatnam is rapidly emerging as a global coastal tourism hub. He invited investors to set up mega amusement parks in the city and emphasized the govt's commitment to providing world-class entertainment infrastructure in the state.According to the 'New Andhra Pradesh Tourism Policy 2024–2029', the Andhra Pradesh Tourism Department (APTA) will expedite all necessary approvals for this project. Under this policy, the govt offers benefits such as up to 25% fixed capital investment subsidy, industrial tariff-based electricity supply, and 100% net SGST reimbursement.