Adlabs Entertainment – owner of Adlabs Imagica in Khalapur – has announced plans to develop a major theme park project in the new city of Amaravati.

Amaravati – an under-development city which first had its foundations laid in 2015 and is currently being built across 217sq km (83sq mi) – will become the future state capital of Andhra Pradesh. As part of that development, Adlabs is planning a new theme park development, likely to be worth somewhere in the region of INR5.5bn (US$88m, €75.8m, £67.5m) based on previous similar plans from the operator.

Details on what the attraction will include have not been confirmed, though funding has been secured for the development, which will be a joint venture with local partner Riverbay Resort. Adlabs will have no direct equity investment in the project, which is based on a licensing agreement.

Adlabs owns two existing attractions, the Imagica theme park – opened in April 2013 – and Aquamagica waterpark, which opened in October 2014. The company also owns the Novotel Imagica Khopoli – a family hotel opened in 2015.