November 2017 \ Business & Investment \ BUSINESS AND GOVERNANCE
Rs 25,000 crore for Dwarka Centre

The union cabinet, chaired by Prime Minister Narendra Modi, approved a proposal

The union cabinet, chaired by Prime Minister Narendra Modi, approved a proposal for developing an exhibition-cum-convention centre (ECC) in Dwarka in west Delhi, an official said. The exhibition-cum-convention centre and allied infrastructure will be constructed at an estimated cost of Rs 25,703 crore by 2025. The cabinet also approved incorporation of a new Government company as a Special Purpose Vehicle (SPV) for implementation and development of the project with 100 per cent equity from the Government through the Department of Industrial Policy and Promotion (DIPP), an official statement said. It is estimated that the proposed facility, once fully operational, will infuse a demand for more than 100 major international and local exhibition events annually. The number of paying visitors to the exhibition facility annually is estimated to be more than 10 million in the first phase from 2019-20 and 23 million after completion of the second phase by 2025. Similarly, convention-based delegate attendance is estimated to cross 1.5 million annually after successful completion of second phase of the project. The project is also likely to generate over five lakh direct and indirect employment opportunities.




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