THIRUVANANTHAPURAM: The Kerala State Industrial Development Corporation (KSIDC) and the FACT will form a joint venture company to establish a world class trade and exhibition centre in Kochi.
The centre will come up on 30 acres of land owned by FACT at Udyogamandal in Kochi. This land will be the share of FACT in the new JV company. The KSIDC in collaboration with other state PSUs will chip in the remaining 50 percent equity for the project. A convention complex will also be part of the project.
The centre is expected to make strong Kochi’s position as a MICE destination.
The project estimate will be Rs.250 crore.
A convention centre capable of accommodating 4,000 persons, a five-star hotel, a shipping complex and related facilities are envisaged in the project, said a press note issuedby the KSIDC.