Dubai's Otaiba Group to invest $ 50 Million in Snow Centers in India
United Arab Emirates-India, Economics, 5/5/2001

The Dubai-based petroleum company Mohammed Al Otaiba Group Est (MAOGE) is planning to set up four indoor "snow centers" in India with an investment of $50 million, reported the Indian news agency PTI this Saturday.

The company has also finalized plans to set up a $ 20 million project in Mumbai in the form of a snow-cum-leisure and entertainment center spread over 9,000 sq meters, MAOGE chairman Mohammed Otaiba told reporters here Friday.

Asked where the center would be located, he said, the company was not in a position to disclose further details as the deal was yet to be completed.

The Mumbai project would be India's largest indoor center in Asia-Pacific region offering facilities like skiing, snowboarding, winter village, Alpine food restaurants amongst others, he added.

Otaiba said the projects would be funded by way of 100 per cent foreign direct investment.

The Group has already been running such amusement and leisure centers in Dubai and Gold Coast in Australia and other centers are about to be set up in Cairo and Jeddah, he added.

The snow centers would wear a "total winter atmosphere" indoors with snow lying between 40 cm and 50 cm deep on the slope at a temperature of around minus seven degrees Celsius, Otaiba said.

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