In a recent development, the India Trade Promotion Organisation (ITPO), has decided to auction 3.7 acres prime land in Pragati Maidan to build country‘s biggest exhibition-cum-convention centre. The funds will be used to build a 500-room hospitality complex for visitors, chief L C Goyal said, adding that the project would require Rs.2,250 crore and ITPO will pump about Rs.1,200 crore. The Cabinet has approved that ITPO can raise institutional loan from banks and financial institutions by monetizing the available space. He further added that another Rs.800 crore will be spent for overhaul of the road infrastructure and connectivity around Pragati Maidan and the major chunk of the funds will flow from the Urban Development Ministry.
📅Published on:
18 May 2017
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