NEW DELHI: India Tourism Development Corporation (ITDC) signed a memorandum of understanding (MoU) on 10th April 2018 with Hyderabad based firm M/s Suraas Impex Pvt. Ltd. for developing a Mega Tourism Destination project at Bhairav Lanka in Kakinada, East Godavari District of Andhra Pradesh at an estimated cost of Rs. 550 crores.nnThis is the first of its kind project for the state owned ITDC, which got preferred against several private contenders.nnITDC will be the Consulting Agency as well as Implementing Agency for the DPR and the execution which shall be taken up in three stages i.e. preparing the DPR, Implementation of project costing around 550 crores and implementation of second phase of the project.nnITDC has been the prime mover in the progressive development, promotion and expansion of tourism in the country. The Division has completed 67 infrastructure projects for Ministry of Tourism, Ministry of Culture and various State Governments.nnThe division has also prepared more than 85 DPRs for various tourism projects in the country. The corporation provides Engineering Consultancy Services through its full-fledged Ashok Consultancy & Engineering Services Division. It undertakes development of Tourism infrastructure projects from concept to commissioning. It provides services to Ministry of tourism and State Tourism Departments. Suraas Impex Pvt. Ltd. is engaged in trading, renewable energy power generation & hospitality etc.