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|March 23, 1998||
Arunachal Pradesh bid to set up 'Sun Village'
A memorandum of understanding was signed between the Arunachal Pradesh government and Austec Gaming Alliance of the United States for setting up of a "Sun Village" at Jengging in Upper Siang district of the state, at an estimated cost of $100 million.
Disclosing this in the state assembly during question hour on March 21, Arunachal Pradesh Tourism Minister Tengamngemu said this was an integrated tourist project with facilities consisting of theme park, water sports, five-star hotels, resorts, bars and night clubs, casinos, golf courses, commercial shopping complex, convention centre, health club, para sailing, and ice skating.
The project is aimed at the top market segment of foreign tourists with high spending capacity and to facilitate their travel, he said.
He said the project will be operated on the pattern of "build, own and use" with the state government's commitment limited to providing land for the project, nearly 2000 acres, on a 99-year lease. In return, the company will hand will pay 25 per cent of its total annual net earnings from the project.
The White House (United States government) has cleared the project and the Exim Bank has agreed to finance the international airport. However, the airport proposal, submitted to the government of India, is still awaiting clearance by the Foreign Investment Promotion Board.
Tengamngemu said the matter is being pursued with the Union government in all earnestness and with the project's clearance, most of the major procedural formalities will be over, he added.
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