Headed by Prime Minister Narendra Modi, the Cabinet Committee on Economic Affairs (CCEA) approved a project for upgrading the Pragati Maidan in the national capital into a world-class exhibition-cum-convention centre. The committee agreed that the ITPO is to utilise Rs 1,200 crore of its free reserves for the funding of the project. The rest of the cost is to be raised by taking several forms of loans, partially granted by the government. The CCEA further released a statement saying that the need for a world-class Exhibition-cum-Convention Centre given India’s growing international profile and increasing presence at summits at ministerial and other levels. The statement added that the present facilities were way short of international standards.
Here are a few of the new developments that could be seen at Pragati Maidan once the reconstruction completes:
1. The redevelopment programme is to be done in two phases. By the time the phase comes to an end by May 2019, an expansion 3.26 lakh square meters would have been redeveloped.
2. The exhibition space would get doubled to 1.19 lakh square kilometres against the currently available 65,000 sq metres.
3. Following the redevelopment, Pragati Maidan will have a state of the art convention centre capable of seating 7,000 people at the same time.
4. To ease the generally heavy traffic in the area, which is expected to surge higher following the developments, a grade separator would be provided at the Mathura Road and Bhairon Road junction.
5. To facilitate easy communication direct connectivity through the subway from Mathura Road to Ring Road across Pragati maidan will also be provided.
The Cabinet Committee on Economic Affairs (CCEA) approved the mega project is reported to have been assigned to the National Building Corporation Limited (NBCC) as a Project Management Consultant by the ITPO. The ITPO is also to call for a global bidding for selection of project executors for the construction of the project. The CCEA had approved the proposal of India Trade Promotion Organisation (ITPO), a Mini Ratna Category-1 Company under the Department of Commerce, for the redevelopment of Pragati Maidan.