Wonderla Amusement Parks, a subsidiary of VGuard Industries, is starting construction of its third theme park in Hyderabad. The company has acquired 65 acres of land for the park at Shamsabad, seven to eight km from the airport. The park sized similar to the existing one in Bangalore is estimated to cost Rs 220 crore. Wonderla has already spent around Rs 30 crore for acquiring the land.

“The new project will be in line with the style of the two parks the company currently runs. But our endeavour will be to bring in the latest technology and equipment available in the world and it will be an updated version of the Bangalore park which was built six years back. We are currently in the designing stage and soon will be placing orders for equipment,” said Arun Chittilappilly, managing director of Wonderla Amusement Parks.

“The company is debt free now and hence we will avail bank loans for the Hyderabad project, combining it with internal accruals. Once the Chennai project comes up, we will go for external funding. The land acquisition for the Chennai projects needs a few government clearances,” he said.

Wonderla has completed the work on its resort beside the Bangalore park and it will be soon opened for the public.

“The resort has 85 rooms and a built-in area of 1 lakh sq ft. Further there are four banquet halls and conference facilities. We have invested Rs 27 crore on the resort,” he added.

The company had recently realigned its business by re-branding its Kochi park as Wonderla Kochi. The administration and processes of the two parks have been centralised and streamlined.

This has helped the company save on the duplication of the administration expenses as well as on the marketing communication and spend.