Bangalore: Abu Dhabi-based Marib Holdings LLC plans to build a "space city" in Chikkaballapur district, about 90 km from here, at an investment of Rs.18,400 crore ($4 billion), the company said Sunday.
The project, which received in-principle approval of the state government Saturday, includes setting up of an entertainment theme park on the lines of Disneyland in an integrated recreation, business and residential township spread over 1,600 acres of land.
"The space city will be a state-of-the-art high-tech multi-functional educational entertainment project, with a view to boosting real estate, hotels and hospitality and leisure and tourism sectors," Marib said in a statement here.
Sheikh Sultan Bin Mohd Bin Khalid Al Nahyan, a member of the Abu Dhabi`s royal family and main promoter of Marib, will visit Bangalore in July to submit a master plan for final approval.
The project will also have a science and technology park, exhibition centres, malls and media-linked events.
"We have identified land for the project in three villages - Hosahudiya, Adiganapalli and Narepalli in Bagepalli taluk of Chikkaballapur district. The space city is expected to provide employment to about 20,000 people," major industries minister Murugesh Nirani told reporters.
The group has set up Marib Infrastructure India Ltd to build the space city in the backward district, which is represented in the Lok Sabha by Law Minister M Veerappa Moily, who was also the chief minister in the early nineties.
"We plan to develop an innovative city with recreational, commercial and residential facilities. It will be a cluster of fashion city, a hotel city and a media city," Marib`s India Managing Director Sanjai Chhaunker said in the statement.
The key components of the project include 7,200 residential units, a city centre consisting of a techno city, media city, media design centre, fashion hub and exhibition halls. The free zone office tower will have offices, star hotels, an exhibition hall and a convention centre.
The science and technology park will be the heart of the themed entertainment and edu-tainment elements in the space city.
"The space concert centre will be an intelligent, multi-purpose facility with musical entertainment and performing arts creation centre and a 2000-seat hi-tech auditorium," Chhaunker noted.
The futuristic city will have a mono rail and electric cars to keep it pollution free.
A high-level committee of the state government also cleared about 60 proposals, with a combined investment proposals to the tune of Rs.87,494 crore, including Rs.18,400 crore for the space city.
"Proposals in tourism and power sectors will account for half the total investment and provide jobs to about 130,000 people in 23 of the 30 districts across the state," Nirani added.