The Hindu Business Line : Visaka okays new name for cricket stadium

VISAKA Industries Ltd (VIL) has announced here on Friday that it has no objection for changing the name of the newly constructed international stadium from `Visaka Stadium' to `Rajiv Gandhi International Cricket Stadium'.

VIL had contributed Rs 4.32 crore for the construction of the stadium last year with an agreement with the Hyderabad Cricket Association (HCA) that the stadium be named after the company for the next 20 years. Addressing a press conference here on Friday, the VIL Managing Director, Dr G. Vivekanand, said as per the agreement HCA has the right to change the name. However, in such a case HCA has to pay around Rs 40 crore to the company as compensation.

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