KPMG is consultant for VBR's Vizag tourism project

Vizag Beach Resorts Private Limited (VBR), which recently signed a memorandum of understanding (MoU) with the state government to execute the Rs 3,000-crore tourism project in the surroundings of Visakhapatnam, has appointed KPMG as the consultant to prepare the detailed feasibility report.

"KPMG is currently on the job and we are expecting a detailed report within a month," VBR chairman Pradeep Sabharwal told mediapersons here on Wednesday.

After entering into the MoU with the state government, VBR tied up with several foreign investors to build world-class continental hotels and golf courses, and to create medical tourism facilities.

"We recently submitted the details of the partners to the state government. Once the government is satisfied with our foreign investment partners and their capabilities in the hospitality sector, we will go ahead with the project," he added.

Apart from this, UTI Bank and the Industrial Development Finance Corporation (IDFC) have evinced interest in extending financial assistance of up to Rs 4,000 crore for the proposed tourism project, Sabharwal said. "After completion of the project, we are confident of attracting around 2 lakh foreign tourists a year from across the globe," he added.

The project includes 1200-1500 hotel rooms, 2,000 apartments, a 100-acre water park, a 45-acre dolphin therapeutic park and sanctuary, three championship 18-hole golf courses, a convention centre,100 acres of medical development including hospitals, research facilities and diagnostic centres besides a luxury hotel for patient recovery and four yachts for cruises.

The company had sought about 1,200 acres of land from the state government on the beach front for developing these facilities. The land allotted would be the state government's equity in the project, he said.

Apart from creating employment for about 25,000 people, the tourism project would employ dozens of independent consultants -- from golf course planners to hoteliers, road and infrastructure, and even energy experts, he added.