Infrastructure Corporation of Andhra Pradesh Limited (INCAP), India, has received expressions of interest from 17 investors for the development of convention centers through PPP.
The request for proposal notifications are scheduled to be issued this month and three preferred bidders are expected to be selected by July this year.
Spread across 70-100 acres, the government of Andhra Pradesh, through INCAP intends to develop world-class mega convention centres and other allied components in Visakhapatnam and Tirupati on PPP model. These convention centres will play a key role in attracting industrialists, academicians, tourists and pilgrims from across the globe. The key project components envisaged are:
The government of Andhra Pradesh also plans to develop a convention centre in an area of 30-50 acres on PPP basis in Vijayawada. The key project components envisaged are:
The convention centers will be developed on a design, build, finance, operate and transfer (DBFOT) basis.
The total investment for each convention center is estimated between Rs1.5 billion (US$23.4 million) and Rs2 billion (US$31.3 million).
The Government of Andhra Pradesh's vision is to be amongst the top 3 states in India by 2022 and be the most preferred global destination by 2050. The state is a progressive state and the government is taking steps to provide an environment conducive to economic and social growth.