Posted Mar 17, 2007, 5:29 AM
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Join Date: Mar 2007
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Decks cleared for convention centre complex at Akkulam
Quote:
Decks have been cleared for the setting up a Rs.100-crore International Convention Centre Complex (ICCC) near Akkulam tourist village in the city with 26 per cent equity participation of the State Government.
A Special Purpose Vehicle (SPV) will be formed to implement the project, which will give a fillip to MICE (Meeting, Incentive, Convention and Exhibition) tourism in the capital city and southern region of the country.
Official sources told The Hindu that a private partner - Chalet Hotels and Properties Pvt. Ltd. along with M/s Raheja Corporation Pvt. Ltd. - had been selected through a bidding process.
The agreement was being worked out and Chalet Hotels and Properties (Kerala) Pvt. Ltd. had been registered.
To be taken up under the Built-Operate-Transfer (BOT) concept, the ICCC will come up on 46 acres of land on the left side of the road leading from Akkulam tourist village to the Kazhakuttam-Inchivila NH 47 bypass. The site is close to the land acquired for the development of the Technopark.
The ICCC will have a total built-up area of 16,480.86 sq. m. It will have a convention and exhibition centre, resort, retail, marina and on-site infrastructure in the first phase. Proximity to the international airport, Technopark, railway terminal, and the beach resort of Kovalam are cited as the main reasons for Akkulam being selected to set up the ICCC.
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Full Article: Hindu
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