The soon-to-be-developed, iconic International Exhibition Convention Centre at Pragati Maidan New Delhi gets a renowned engineering solution provider – Shapoorji Pallonji to design and create a world-class MICE Convention Centre
Bindiya | MICE INDIA | 24 December 2017
International Exhibition Convention Centre, New Delhi
The new, iconic International Exhibition Convention Centre at Pragati Maidan New Delhi gets a turnkey engineering solutions provider for the proposed project – Shapoorji Pallonji. The Engineering and Infrastructure giant has been entrusted the opportunity to develop and construct the incredible structure for the new International Exhibition cum Convention Centre, which will be the pride of the nation for many years to come. The current infrastructure has been demolished for the first time after its construction in 1952.
International Exhibition Convention Centre – Rs. 2,600 Crore
The Rs 2,600-crore project to redevelop the venue for events of global scale and nature – the ITPO complex at Pragati Maidan New Delhi – was won by Shapoorji Pallonji after piping the other infrastructure giant – L&T. Shapoorji Pallonji in the recent past has been the redeveloper of the huge Sports Stadium for the Commonwealth Games – the Jawaharlal Nehru Stadium New Delhi, apart from designing and developing some of the best residential and commercial properties in India and overseas.
Considering that the prestigious G20 Summit may be preponed (unconfirmed report) to 2018 instead of the scheduled date of 2019 in India, the developer will have to act at a neck-break speed. Several large events of global scale which were always held at the Pragati Maidan, will be working closely with the developer to announce the return of events. The MICE sector will largely benefit, as the capital city faces deficit on Conference infrastructure. The project includes the development of a state-of-the-art convention centre with a capacity to seat 7,000 people, almost five times the capacity of Vigyan Bhawan, the government’s premier convention centre and parking space for about 4,800 cars.
The project will be internally funded by India Trade Promotion Organization (ITPO) to the tune of 50% and balance through long-term loan from financial institutions with government guarantee, or through soft loans, external aid and land monetisation.
The project is tentatively expected to be complete by October 2019.