Adlabs to build Theme park

Adlabs Entertainment, Manmohan Shetty’s company is investing Rs.1600 crore on a project which will take entertainment to a whole new level.  The project, a theme park, named Adlabs Imagica is coming up on a 300 acre plot on the Mumbai-Pune Expressway and it will be rolled out in three phases.

The first phase will be open to the public in March 2013. This phase will have about 21 International standard rides, the country’s largest rollercoaster and 4D stimulation rides. The other two phases will have a three star hotel and water park. The traveling time will be one hour both from Mumbai and Pune. Mr.Shetty had sold his stake of Adlabs Films to Anil Ambani Group and two years later set up Walkwater Media for producing films.

 For this new ambitious project, he has secured two-thirds of the project cost in debt from fourteen banks led by Union Bank while he will put in the rest as equity. The entry ticket would cost around Rs.1400-1500 per person and would form 75% of the total revenue. The rest, of course, would be earned through beverages, food and merchandise sales. The company is targeting three million visitors in the first year of operations. An international level, gaming and entertainment hub is what we need and with such close proximity from two main cities, could this theme park be the answer?