Small exporters plan Rs 500-cr exhibition centre in Noida

Over 6,500 small exporters, led by Export Promotion Council for Handicrafts (EPCH) and Greater Noida Industrial Development Authority (GNIDA...

Over 6,500 small exporters, led by Export Promotion Council for Handicrafts (EPCH) and Greater Noida Industrial Development Authority (GNIDA), have joined hands to set up a Rs 500-crore exhibition centre in Greater Noida.

A company named India Exposition Mart Ltd has been incorporated for this purpose. While EPCH will hold 10 per cent stake in capital base of Rs 37 crore, GNIDA will be a three per cent stakeholder. The balance shareholding will be with the 6500-odd exporters.

“We have fully tied up the finances and work on the exhibition centre has started. The first phase is scheduled to be completed in 2005,” EPCH executive director Rakesh Kumar said. The cost of construction in the first phase, having a covered area of 85,000 square feet, is about Rs 173 crore.

Story continues below this ad

“While the company has already raised a debt of Rs 37 crore, Rs 103 crore has been raised as advances for the space,” he said, adding that the Mart will also have permanent business activities for which 900 showrooms are being constructed.

Highlighting the unique initiative of small companies to create infrastructural facility for their own sector, Kumar said, “the project is significant especially due to the private sector initiative where promoters are not leading industrial houses but small exporters.”

Stating that the Mart has been inspired by exhibition centres of Dallas and Atlanta, Kumar said, “the facilities will be managed by Dallas Mart Corporation while the Munich-based JV Consultants will be the architect. The entire area will be centrally air-conditioned and six large exhibition halls will be inter-connected with complete infrastructural facilities and a provision to park about 8,000 cars.” The entire project is likely to be completed by 2007.

The project is located adjacent to the eight-lane expressway in Greater Noida with a 4 MW captive power generation facility. The Mart is likely to challenge the monopoly of India Trade Promotion Organisation (ITPO). EPCH is currently holding two fairs every year at Pragati Maidan, the exhibition venue promoted and managed by ITPO.

Story continues below this ad

Welcoming a new exhibition venue near Delhi, ITPO spokesperson said, “it is an addition to the existing infrastructure.”

ITPO is not worried over losing business. “We have about 30 events in a calender year, EPCH used to have only two events in a year that to for a total eight days,” he said.

So far as the choice of venue is concerned, we will have an edge due to location. Greater Noida is quite far off from the city,” he said, adding that ITPO is constantly evolving and will certainly add additional facilities to retain its leadership position, he added.