Rivar Group signs Rs 3,000 crore MoU with Goa for sports city
The European investment group plans to develop an international sports and performance destination in the state.
The Goa government, through the Goa Investment Promotion and Facilitation Board (Goa IPB), signed a memorandum of understanding (MoU) with European investment group Rivar Group on November 4. According to Moneycontrol, the agreement involves a proposed investment of approximately Rs 3,000 crore, excluding land, to create an international sports and performance city in Goa.
The project was signed at the Vibrant Goa Global Business Summit 2026 in Panaji in the presence of Goa Chief Minister Dr Pramod Sawant. Rivar Group Director Anil Kumar Reddy and Goa IPB Chief Executive Officer Ankit Yadav, IAS, signed the document.
The proposed facility is intended to house an international sports school, academies for cricket and motorsport, and a human performance institute. Planned sports include football, tennis, badminton, and padel, with future expansions into disciplines such as golf, swimming, and athletics.
Reddy stated that the project is the group's first major initiative in India and aims to provide young athletes a pathway to professional success at home. He added that the company is also looking at investment opportunities in other states regarding aerospace, deep technology, and advanced manufacturing.
The development is expected to be carried out in four phases, starting with site selection and feasibility studies. The company noted that subsequent stages depend on securing funding, regulatory approvals, and land identification.
At full build-out, the project is estimated to create more than 1,000 direct jobs and around 2,000 indirect jobs in sectors such as coaching, hospitality, and engineering.