International convention centre to cost Rs 1200 crore

Proposal to be presented to union minister of state for finance Dr Bhagwat Karad today

Chhatrapati Sambhajinagar: Aurangabad Industrial Township Limited (AITL) has proposed the establishment of an International Convention Center in Auric, with an estimated cost of Rs 1,200 crore. The proposal will be presented to union minister of state for finance, Dr Bhagwat Karad, on Monday, by Suresh Kakani, the managing director of AITL.

The demand for an International Convention Center in the region has been long-standing, with the Chamber of Marathwada Industries and Agriculture (CMIA) and other entrepreneur associations advocating for it. The proposed centre could host various kinds of exhibitions, which would alleviate the financial burden on organizers who currently spend lakhs of rupees every year.

According to sources, the proposed convention centre is expected to cover an area of 50 acres, and it is unclear how the funds of Rs 1200 crore will be raised. The centre may be built in partnership with the Central or State government, or through a public-private partnership (PPP) model. The proposal will be sent to the Central Government through the state, and it is expected to take at least six months to gain approval before construction can begin.

Will drive economic growth

The proposal has been prepared recently by Auric officials, and its presentation will be attended by representatives of CMIA and senior officials. The construction of the international convention centre is expected to drive economic growth in the region and attract more visitors to the city.