After almost a two-year-long wait, the International Trade and Convention Centre, the joint venture project of Indian Trade Promotion Organisation (ITPO) and Kerala Industrial Infrastructure Development Corporation (Kinfra) at Kakkanad, is all set to become a reality.
The centre with an investment of `112.50 crore is coming up at 25 acres of land at the Kinfra Export Promotion Industrial Park at Kakkanad.
The master plan for the first of its kind project in the state is expected to be ready by June when the initial work will commence. The state government granted an in-principle approval for the project in 2012. But owing to the non-availability of funds it got delayed. The state government allotted `1 crore for the project recently which is scheduled to be completed by March 2017.
The trade and convention centre is conceived as a hub for holding industrial exhibitions, conferences, trade fairs, product launches, and national and international conventions. The complex will also house a food court, shopping mall, and VIP lounge. Such a facility that is nearest to the state can be found in Chennai in Tamil Nadu. The centre will be located near Infopark, Kinfra Park and the Smart City project. Proximity to the Kochi International Airport, Cochin Port, and the Seaport-Airport Road has made the place ideal for the project. Kinfra Managing Director S Ramnath said that the problems related to fund mobilisation was the major reason behind the delay in implementing the project.
“The master plan for the project is expected to be ready by June. Kinfra and ITPO will jointly finalise the it. By then we hope to begin the construction of the project too. As of now there is no such facility available in the state. Since the project is coming up at the Kinfra Park there is no need for further land acquisition. So we hope to complete the propjet as scheduled,” he said.
The main objective of the centre is to facilitate the overall growth of export trade and services. Of the total amount, `31.25 crore each will be provided by the central and state governments and the remaining Rs 50 crore will be mobilised via credit.