Business Standard

Wonderla gets nod for amusement park in Odisha


Press Trust of India Chennai
: Amusement park operator Wonderla Holidays Ltd on Tuesday said the company's board has given the nod to set up a new amusement park in Odisha.
"The board has given an in-principle approval to evaluate setting up of an amusement park in Odisha consequent to an offer from the government of Odisha.", Wonderla Holidays said in a BSE filing.
In another notification, the company said it would commence construction of a new project in Chennai following approval from the government of Tamil Nadu.
Wonderla Holidays Ltd has planned to establish the amusement park here at an estimated cost of around Rs 350 crore, the land for which has already been purchased.
The company said it had to delay the project following the levy of entertainment tax of 10 per cent by state government over and above the Goods and Services Tax.
"Now, the government of Tamil Nadu has agreed to give exemption to the company from levy of entertainment tax for a period of five years commencing from November 1, 2019," Wonderla Holidays said.
The company said it would begin construction of the Chennai project soon, subject to necessary project approvals by the authorities.

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First Published: Oct 29 2019 | 4:55 PM IST

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