Wonderla Holidays, a part of V-Guard Industries, Kerala is planning to design and manufacture rides for amusement parks which will cater to the growing domestic demand for hi-tech amusement rides
Wonderla Holidays, a part of V-Guard Industries, Kerala is planning to design and manufacture rides for amusement parks which will cater to the growing domestic demand for hi-tech amusement rides. A promoter of amusement parks, Wonderla Holidays is talking with Italian firms SBF Visa group, Zamperla Rides and Moser Rides for a joint venture. Arun Chittilappily, Executive Director, Wonderla, said, “Amongst 150 amusement parks in India, only 10 are theme based as compared to Florida in US that has 200 theme parks.” The size of the Indian amusement park business is estimated to be around Rs 4,000 crore, according to the Indian Association of Amusement Parks and Industries (IAAPI), and is expected to grow 6% annually till 2010. According to Mr Chittilapilly, rides made in India can reduce costs by up to 30%. "Not everyone can afford a Rs 5-crore amusement ride to start with. Our aim is to cater to the Rs 1-crore segment without compromising on quality or safety," he added. Wonderla Holidays also plans to develop resorts next to its amusement parks. Over, the next four years, the company intends to develop three resorts at Bangalore, Kochi and at Mumbai, where it is looking to develop a Rs 150-crore theme park, on a 120-acre patch located on the outskirts of Panvel. Chittilapilly said that this project is expected to complete within three years. The company`s unused land bank at Wonderla, at Bangalore, stands at 40 acres, while in Veegaland, at Kochi, the same is in excess of 60 acres. The company plans to involve domestic player to develop resorts in order to keep room tariffs affordable.