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The upgradation work will be taken up under Public-Private-Partnership (PPP) model.
“The upgradation includes building hotels, upgrading KRS with illuminations and including water sports,” Law and Parliamentary Affairs Minister H K Patil said, adding that it will be done on the lines of a fantasy park.
He said: “…there is a concept based on certain plans and needs; private players will come with their concept and the project will take shape. Calling for Expression of Interest and further things will follow.”
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The master plan includes concepts like: helipad, parking, Cauvery promenade, cascade, entry plaza, grand street, food plaza, boating lake, amphitheatre, botanical garden, laser fountain show, water park, museum, and river view deck, they said.
The Cabinet also gave its approval for setting up Animation Visual Effect 2.0 — Centre of Excellence at an estimated cost of Rs 16 crore. Of this, CAPEX (capital expenditures) will be Rs seven crore and OPEX (operating expenses) Rs nine crore.
Administrative approval was also given for setting up one hostel each in 15 taluks by the Social Welfare Department department at an estimated cost of Rs 105 crore.