The Indian Tourism Infrastructure Ltd. (ITIL), a Mumbai-based company, is preparing a cache of over Rs 1,000 crore for investing it in the country's tourism infrastructure projects that take-off before 2015. It has applied to the Indian Government for permission to acquire the funds from foreign private equities and public fund firms. As per the existing guidelines, only 49 per cent Foreign Direct Investment (FDI) is allowed in the Indian market. ITIL is currently awaiting the approval.
The company is coming up with two private cruise terminals, one at Jamnagar in Gujarat and the second at Dapoli in Ratnagiri. "Both the cruise terminals are likely to be operational by 2009 and will indirectly help the local tourism industry grow," said Jyotin Doshi, Chairman, ITIL. Further, it is also in the process of setting-up two Special Economic Zones (SEZs) at Mandangad and Sindhudurg in Maharashtra, where it has acquired plots of 1,000 acres and 1,400 acres respectively. The company is also looking at entering into management contracts with hotels in metros and other cities of popular tourist interest. Plans have also been finalised to construct 500 rest rooms, which will be separated by a distance of 50 kms. in tourist areas all over the country. Further, it has plans to build 40 private helipads and four private airstrips at strategic locations across the country, which are difficult to access and hence losing out on their tourism potential.
Source : TravelBizMonitor
Saturday, December 08, 2007