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Thiruvananthapuram: Fertiliser giant FACT (Fertilisers and Chemicals Travancore) will pitch in 50% equity in Kerala Government's industrial promotion arm's foray to set up a premium-grade business centre in Kochi. Board of Directors of FACT has agreed to the Rs 250-crore JV (joint venture) with KSIDC.
"The JV would set up a world class trade and exhibition centre and a convention complex at Kochi," says Manoj Joshi, managing director, KSIDC (Kerala State Industrial Development Corporation). Despite being a commodities export centre, Kerala doesnot have a trade centre so far.
The proposed convention centre expects to cater to tourism business too. Besides a 4000-seater convention centre, a five-star hotel, shopping complex and related amenities have been charted out, according to KSIDC's feasibility study. Large exhibition halls suitable for assorted trade fairs are part of the plan. This kind of focussed infrastructure-building could position Kochi as a destination in MICE (Meeting, Incentives, Conference and Exhibitions) tourism, says Joshi.
The feasibility report also projects adequate hotel room stock to ensure the commercial viability of the convention centre. Apart from the new hotel projects in the pipeline, there are 1300 Star category hotel rooms in Kochi. The proposed site for the convention centre is by the side of new Vallarpadam highway, within access to airport, city and the ambitious ICT (International Container Terminal) nearing completion, in tie up with Dubai Port Trust.
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