Rivar Group to invest Rs 3,000 crore in Goa sports city
The European investment group will develop an international sports and performance destination in the state.
The Government of Goa, through the Goa Investment Promotion and Facilitation Board (Goa IPB), signed a Memorandum of Understanding (MoU) with Rivar Group on Monday for a proposed Rs 3,000 crore investment in the Goa International Sports & Performance City. According to ANI, the agreement was signed at the Vibrant Goa Global Business Summit 2026 in the presence of Chief Minister Dr Pramod Sawant.
The project, which excludes land costs, aims to integrate international education, elite sports, cricket, motorsport, and wellness. Rivar Group Director Anil Kumar Reddy and Goa IPB Chief Executive Officer Ankit Yadav, IAS, signed the document.
The development will be carried out in four stages, starting with feasibility and site selection, followed by the launch of academies, an expanded campus, and finally the cricket ground and motorsport circuit. Each stage depends on securing funding, demand, and necessary approvals.
Reddy stated that India is a strategic market for the group and that the city will provide young Indian athletes a pathway to the top at home. He added that the group is also exploring opportunities with other state governments in sectors such as aerospace and advanced manufacturing.
The initiative is anticipated to generate over 1,000 direct employment opportunities and approximately 2,000 indirect roles across various fields including coaching, physiotherapy, and hospitality.
Under the terms of the MoU, both parties will work on a feasibility phase that includes site identification, a master plan, and regulatory assessments.