The Andhra Pradesh Capital Region Development Authority (APCRDA) has invited bids from private developers to develop the Amaravati Eye—a 139-metre-tall giant observation wheel and integrated tourism hub—on the Krishna River riverfront in Amaravati under a Public-Private Partnership (PPP) model.

As part of its vision to position Amaravati as a global tourism destination, the Andhra Pradesh government is planning to develop the Krishna riverfront with a range of theme-based attractions, including the landmark Amaravati Eye, a giant observation wheel. The initiative is aimed at creating a vibrant recreational and tourism corridor that enhances the city's appeal to both domestic and international visitors. To support this vision, the government has identified seven river islands (lankas) covering nearly 5,000 acres between Prakasam Barrage and Vaikuntapuram for tourism-oriented development. In the first phase, development will focus on a 500-acre island near Uddandarayunipalem, where the Amaravati Riverfront project will be implemented along a 27-km stretch of the Krishna River.

As a pilot initiative, the government proposes to develop a 1-km-long Amaravati Marina, complemented by boating services that will provide connectivity between the river islands. The project will be implemented through the PPP model under the Amaravati Growth and Infrastructure Corporation Limited (AGICL), which has invited tenders for the preparation of a Detailed Project Report (DPR). The pilot phase is scheduled to be completed ahead of the Krishna Pushkarams in 2028. The riverfront development plan also emphasizes sustainability by incorporating eco-friendly landscaping, extensive planting, and flood-resilient infrastructure to create a resilient and environmentally responsible waterfront destination.

A major attraction of the proposed riverfront development is the Amaravati Eye, a giant observation wheel planned near the government office complex on the banks of the Krishna River. Strategically located close to prominent landmarks such as the Amaravati Stupa, the Dhyana Buddha, and the Amaralingeswara Temple, the observation wheel is envisioned as a signature tourism landmark for the capital region. The project will be developed on about five acres at an estimated investment of ₹120 crore (US$12.7 million) under the PPP model using the Design-Build-Finance-Operate-Transfer (DBFOT) framework, with the selected developer receiving a 30-year concession period.

To improve the project's financial viability, the development has been structured into two components—the Amaravati Eye observation wheel and an adjoining commercial zone. A one-acre commercial and market area adjacent to the observation wheel has been planned to generate additional revenue and enhance the project's long-term sustainability. The project is expected to attract approximately 2.55 million (25.5 lakh) visitors annually, making it a key tourism destination in the region. Beyond the observation wheel, the broader riverfront tourism circuit will include luxury resorts, theme parks, open-air theatres, cultural venues, river ghats, public plazas, landscaped parks, cycling and walking tracks, and horse-riding facilities, creating a comprehensive recreational and leisure destination along the Krishna River.