The Hindu Business Line : MICE centre planned on FACT land

Kerala State Industrial Development Corporation (KSIDC) and the Fertilisers and Chemicals Travancore Ltd (FACT) plan to form a joint venture to establish a trade, exhibition and convention complex in Kochi.

The joint venture company to implement the project will be formed by FACT, KSIDC and other State Public Sector Units (PSUs), said a KSIDC official. While FACT will hold 50 per cent stake in the venture, the remaining 50 per cent will be held by State PSUs, the official added.

FACT’s stake in the project will be in the form of 30 acres of land it owns at Udyogamandal in Kochi. The total investment in the project is expected to be around Rs 250 crore, said the official. While the FACT Board has approved the project in principle, the State Government’s approval is awaited.

Expected to be operational in about two years, the exhibition and convention centre will have a range of facilities, said a KSIDC press release. It will have several large exhibition spaces to conduct trade fairs and other exhibitions.

A convention centre to accommodate 4,000 people, a five-star hotel and a shopping complex will also be a part of the project. The proposed exhibition and convention centre will help position Kochi as a MICE (meetings, incentives, conventions and exhibitions) destination, the release added.

More Stories on : Alliances & Joint Ventures | Fertilisers | Kerala

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