Integrated Exhibition-cum-Convention Centre

Integrated Exhibition-cum-Convention Centre

Question: a world class Integrated Exhibition-cum-Convention Centre approved by the Cabinet Committee on Economic Affairs is proposed to be built at …
(a) India Gate
(b) Raisina Hills
(c) Connaught Place
(d) Pragati Maidan
Ans: (d)
Related facts:

  • On 24th January, 2017, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi approved the proposal of India Trade Promotion Organisation (ITPO) for setting up of a world class Integrated Exhibition-cum-Convention Centre (IECC) at Pragati Maidan, New Delhi.
  • India Trade Promotion Organisation is a Mini Ratna Category-1 Company under the Department of Commerce.
  • The total cost of the project will be Rs.2,254 crore. ITPO will utilise Rs.1,200 crore out of its free reserves towards funding of the project.
  • ITPO will raise institutional loan / soft loan / external aid / land monetization for the balance amount of Rs.1,054 crore with government guarantee for the amount of institutional loan.
  • The redevelopment of Pragati Maidan is envisaged in two phases. Phase-1 redevelopment is expected to complete by May 2019. Phase-1 of the project will result in redevelopment of nearly 3.26 lakh sq. meters. After redevelopment, the exhibition space will be doubled to 1.19 lakh sq.mtr. as against 65,000 sq. meters presently. Redevelopment will also include creation of a state-of-the-art Convention Center with seating capacity of 7,000 persons.
  • For execution of this mega project, ITPO has assigned the work to National Buildings Construction Corporation Ltd. as a Project Management Consultant.
  • ITPO would call for global bidding for selection of project executor(s) for construction of the project.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx
http://www.business-standard.com/article/pti-stories/modern-exhibition-convention-centre-to-come-at-pragati-maidan-117012400534_1.html