Suchirindia Developers, the Hyderabad-based infrastructure major, will diversify its business into entertainment, hospitality and theme parks. With immediate plans to set up a casino in Colombo, the company is awaiting necessary clearances from the Sri Lankan Government. The company, according to a senior official, has embarked on a massive expansion-cum-diversification plan which entails overall spend of Rs 2,000 crore in the next three years.
Y Kiron, CEO, Suchirindia Developers said, “The company, which is into infrastructure and mining, is foraying into hospitality and theme parks, which would provide entertainment-cum-business conference features for corporates.”
“We will unveil two more projects shortly, including Darling Cave at Shamirpet, and negotiating for another one in Central Business District,” Kiron added.
“As a part of the hospitality business, we are in the process of finalising plans for establishing a chain of six budget hotels in the country,” Kiron said. These hotels, with an investment of Rs 30 crore each, are planned in Mysore, Bangalore, New Delhi, Chennai, Hyderabad and Kolkata. The company will be able to utilise the large land bank of over 3,500 acres it has created in several States.
Suchirindia has announced the Papyrus Port, an Egyptian resort-type theme park, about 15 km from the new international airport in Hyderabad, with an investment of Rs 20 crore. Meanwhile, it plans to invest Rs 40 crore for the second phase.
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