The India International Textile Machinery Exhibition Society (IITME) will develop an international exhibition complex within the Gujarat International Finance Tec-City (GIFT) in Gandhinagar,at the cost of Rs 500 crore.
We have tied up with Exim Bank for financing a part of the Phase-I of the project. We will pitch in with the rest of the money,said Seema Srivastava,executive director,IITME.
The first phase will have a built-up area of around 36,000 square metres and will cost Rs 187 crore.
The project is an outcome of a memorandum of understanding that was signed with Gujarat government in 2011.
The director of GIFT Company Ltd,R K Jha,said,Larsen and Toubro,Shapoorji Pallonji and Dubai-based ANC have been shortlisted to construct the complex.
The total build up area for both the phases will be around 1,40,000 square metres.
This exhibition complex will be operational 260 days in a year.