Srinagar: The government on Tuesday constituted a Committee for coordinating, planning and executing of the project “Development of World Class Amusement Park at Tattoo Ground, Srinagar”, in terms of laid down norms, rules, laws, guidelines and Master Plan.
Headed by Administrative Secretary Industries & Commerce Department, the 11-membber committee has been asked to propose a roadmap for establishment of structure and nature of Special Purpose Vehicle (SPV) based on Request for Proposal (RFP), in consultation with Ernst & Young LLP, which has been engaged for providing Transaction Advisory, Investment Promotion for Development of Theme and Amusement Park in J&K.
The other terms of reference for the committee is to study the Site Assessment Report (SAR), Theme Park Bench-marking Study Report, Investment Promotion Strategy, Project Structuring, Project Procurement, and Project Management Structure to be prepared by Ernst & Young LLP.
Besides, it has been tasked with to study and recommend upon draft bid document, issuance of RFP, evaluation of RPF for selection of concessionaire and signing of concession agreement.
The panel has been asked to act as a recommending body to place the proposals for accord of sanction of the respective competent authority, throughout the project, as and when required.
Also, it has been tasked with to deliberate and take a decision on any concomitant issue in the context of the successful execution of the project.
In August last year, the Ministry of Defence signed an MoU with the Ministry of Home Affairs to develop around 139.04 acres of land at Tattoo Ground in Batamaloo here for tourism and other related activities.

KR Desk