{"id":35023,"date":"2018-10-31T14:50:00","date_gmt":"2018-10-31T09:20:00","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=35023"},"modified":"2018-10-31T14:50:00","modified_gmt":"2018-10-31T09:20:00","slug":"cabinet-to-soon-take-up-5-bn-convention-centre-project","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-to-soon-take-up-5-bn-convention-centre-project\/","title":{"rendered":"Cabinet to soon take up $5 bn convention centre project:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-business\/cabinet-to-soon-take-up-5-bn-convention-centre-project\/article19731907.ece\"><span style=\"font-weight: 400;\">Cabinet to soon take up $5 bn convention centre project<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The Union Cabinet will soon take up the proposal for a \u201c$5 billion worth world -class and state -of -the -art\u201d Exhibition \u2013cum-Convention Centre (ECC) in the national capital.<\/span><\/p>\n<p><b>Introduction:<\/b><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">It will be the largest such facility in Asia once completed by 2021.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Cabinet will consider on approval of the project and formation of a Special Purpose Vehicle <\/span><\/li>\n<\/ul>\n<p><b>(SPV) to implement the same.<\/b><\/p>\n<ul>\n<li><b><span style=\"font-weight: 400;\">Part of the $100 billion Delhi Mumbai Industrial Corridor (DMIC) project, it would be developed on Public-Private Partnership model using viability gap funding of the Centre.<\/span><\/b><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-weight: 400;\">The SPV will be a 100% subsidiary of DMIC Development Corporation.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">The SPV will be given the rights to activities, including sub-leasing of land parcels, sub-contracting project components, granting long term concessions to private developers as well as fixing lease rentals.<\/span><\/li>\n<\/ul>\n<p><b> Why project is necessary?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The project became necessary as India lacked an integrated world class facility that can meet the requirements of global ECC operators in terms of space, project facilities and transportation linkages.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Cabinet to soon take up $5 bn convention centre project:\u00a0 Context: The Union Cabinet will soon take up the proposal for a \u201c$5 billion worth world -class and state -of -the -art\u201d Exhibition \u2013cum-Convention Centre (ECC) in the national capital. Introduction: It will be the largest such facility in Asia once completed by 2021. The&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cabinet-to-soon-take-up-5-bn-convention-centre-project\/\">Continue reading <span class=\"screen-reader-text\">Cabinet to soon take up $5 bn convention centre project:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-35023","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704817660},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=35023"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/35023\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=35023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=35023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=35023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}