By JOHN VAN KLAVEREN
A GROUP of Indian investors with up to $300 million to spend has shown interest in Geelong’s mineral springs spa project, according to a business lobby group.
Chair of the India Australia Strategic Alliance (IASA) Dr Jagvinda Virk said the proposed spa project elicited great interest from the investor group during its latest visit to the city last Friday.
State Government and council have each committed $125,000 for a feasibility study into developing a world-class spa and wellness centre east of Eastern Beach’s swimming enclosure.
Mayor Darryn Lyons said last year the spa and wellness industry was growing rapidly worldwide and could be worth up to $20 million annually to Geelong’s economy.
Friday’s IASA delegation, the second to visit Geelong, heard about investment and real estate opportunities and toured the region.
The delegation visited City Hall and heard from Cr Lyons and representatives of City Hall’s Enterprise Geelong, Central Geelong and Major Projects.
Local real estate agents addressed the group on business and property opportunities, while Regional Development Victoria briefed the 22 members of the delegation on significant investor opportunities.
Cr Lyons said the group explored key locations during a two-hour bus tour.
“The delegation visited Avalon Airport, the Geelong Ring Road Employment Precinct (GREP) and the Geelong Waterfront to get a feel for our region’s transport capabilities and investment opportunities.
“I have developed very close relationships with several members of the delegation and feel positive about future business prospects with the group.”
Cr Lyons said IASA had tentatively proposed another visit in September with double the number of delegates.
The Independent reported last month that the alliance could draw Indian business investment worth between $200 million and $300 million.
Dr Virk said IASA planned monthly delegations from different parts of India to spend two days in Sydney and one each in Geelong, Melbourne and Tasmania.
