Corporation, GCDA Set to Reap Rich Dividends

The ongoing Partner Kerala Urban Development Meet saw many investors expressing interest in all the projects showcased

Published: 25th February 2014 08:01 AM  |   Last Updated: 25th February 2014 08:01 AM   |  A+A-

The Greater Cochin Development Authority (GCDA) showcased six of its ambitious projects at the Partner Kerala Urban Development Meet which kicked off here on Monday.

According to GCDA Chairman N Venugopal, three private investor companies approached the agency expressing interest in staking a claim in the tunnel marine aquarium and entertainment park project. The seven-storey project expected to be set up on the 1.30 acres of GCDA land is estimated to cost `80 crore. The marine acquarium project in Singapore is host to a number of marine species that are enlightening. “In Singapore, the tunnel marine acquarium was an instant hit. In Kochi, we have sufficient resources as well as the space to develop the project,” said a consultant for Thomas Consultant, a Canada-based civil and engineering company which has signed an Expression of Interest (EoI) with the GCDA in the presence of Urban Affairs Minister Manjalamkuzhi Ali on Monday. West Coast Hatcheries, an Ernakulam-based company has also expressed interest in the project.

The Tethered Helium Balloon, which will come up at the Marine Drive was also showcased at the Meet. The balloon that has a capacity to carry 30 passengers at a time will float up to a height of 85 metres. GCDA Town Planning Secretary said the Navy has given its clearance for the project.  An investor has approached the GCDA for implementing the project in PPP mode.  Meanwhile, the Ellis Infra, a private company has signed an EoI for the passenger ropeway project which is expected to come up at the Marine Drive stretch from the GCDA complex to the newly-constructed GIDA building. N Venugopal said the project has received the clearance of the Cochin Port Trust. The detailed project report (DPR) for the project which will be submitted by the private agencies will be examined by the GCDA. The total cost of the project has been put at `60 crore.

 Ellis Infra has also shown interest in the construction of a shopping complex at Ambedkar stadium which is spread over 1.45 acres.  GCDA officials said that one company has expressed interest in the joint implementation of the regional sports complex at Mundamveli, near Thoppumpady.

Exclusive courts for badminton, squash, table tennis and a swimming pool are the attractions of the centre which will be a first of its kind in West Kochi. The project is estimated to be implemented at `50 crore.

 A shopping mall on the land belonging to the GCDA at Manapattiparambu was also showcased.

 N Venugopal told ‘City Express’ that a series of discussions with the companies which have signed the EoI will be held within 10 days. The most satisfactory private investor will be selected and an Memorandum of Understanding (MoU) will be signed.

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