Pragati Maidan phase-I makeover plan to be completed in three years

Projects proposed under the phase I of the redevelopment plan of Pragati Maidan in the national Capital is likely to be completed within 36 months from the date of award of the project, Parliament was informed on Monday.

A project has been conceived on redevelopment of Pragati Maidan complex, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to Lok Sabha.

“The period for completion of the project in Phase-I is envisaged as 36 months from the date of award of the project to the executing agency, subject to the statutory clearances,” she said. The proposal tentatively envisages development of 3,26,065 square meter of built-up area including 1,19,445 sq mtr of exhibition space, convention centre with seating capacity of 7,000, space for public circulation, support facilities and parking space for about 4,800 passenger cars in Phase-I of development plan.

In Phase-II, further development of 86,255 sq mtr of exhibition area is envisaged, she said.

The project at Pragati Maidan is proposed to be implemented on EPC (turnkey or design build) mode.

In a separate reply, she said the government has granted final approval to the National Investment and Manufacturing Zone (NIMZ) at Medak District, Telangana on January 22.

The estimated total investment by manufacturing industry by the end of the ultimate phase of NIMZ development is Rs 17,300 crore, she said.

In a separate reply, the minister said a framework for investment promotion cooperation between Invest India and Saudi Arabian General Investment Authority has been signed on April 3.

Key sectors of Saudi Arabia’s investment to India identified in the framework are infrastructure, energy, manufacturing, transport, education and healthcare.

Key sectors of India’s investment to Saudi Arabia in the framework are ICT, energy, chemicals, construction, food processing, machinery and healthcare.

“The framework agreement is aimed at facilitating investments by private sector in the two countries. Invest India will provide all hand-holding and investment facilitation to Saudi Arabian investors planning to invest in India,” she said.