ADAG eyes Zee’s Essel World

One of the first and largest amusement parks in India, Essel Group’s ‘Essel World’ is drawing interest from Anil Ambani’s Reliance Entertainment.

Reliance Entertainment wants to create entertainment zones around the country and Essel World fits perfectly into its fold due to its suitable location and nationwide popularity.

Even Essel Group has been considering exiting the venture due to various reasons. Firstly, the returns are insignificant due to high capital expenditure costs and then there is growing competition from malls and multiplexes.

Similarly due to protest, Zee group was not able to scale up the size of its entertainment venture leading to disinterest in the venture.

Recently, Reliance Entertainment also struck a deal to build Giant Wheels across India.

If indeed, ADAG buys Essel World, then most likely the prefix Essel would be replaced either by ‘Big’ or ‘Reliance’. source