The Cabinet Committee
on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi
has approved the proposal of India Trade Promotion Organisation (ITPO),
a Mini Ratna Category-1 Company under the Department of Commerce, for
redevelopment of Pragati Maidan by setting up of a world class
Integrated Exhibition-cum-Convention Centre (IECC) at Pragati Maidan,
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.mtrs. After
redevelopment, the exhibition space will be doubled to 1.19 lakh sq.mtr.
as against 65,000 sq.mtr. 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. (NBCC) as a Project
Management Consultant. ITPO would call for global bidding for selection
of project executor(s) for construction of the project.
With India’s growing international profile and increasing presence at
summit, ministerial and other levels, a need has been felt to have a
modern world class Integrated Exhibition-cum-Convention Centre at New
Delhi to provide an appropriate venue for international events. Present
facilities are far short of international standards.
To ease road congestion, grade separator will be provided at the
junction of Mathura Road and Bhairon Road. Also, there will be direct
connectivity through subway from Mathura Road to Ring Road across