KSIDC in pact with FACT for trade centre

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The Kerala State Industrial Development Corporation (KSIDC) and the Fertilizers and Chemicals Travancore (FACT), on Saturday signed an MoU for the setting up a trade centre in Kochi.

The MoU involving an investment of Rs 400 crore was signed between Alkesh Sharma, Managing Director, KSIDC, and VG Sankaranarayanan, Director (Technical), FACT, in the presence of the State Industries Minister, Elamaram Kareem.

T Balakrishnan, Principal Secretary (Industries), and the FACT Chairman & Managing Director, Dr George Sleeba, and the Industries Director, Mr TO Sooraj, attended the function.

The Board of Directors of both KSIDC and FACT had approved the project and also decided to form a joint venture company for promoting the Trade and Convention Centre, with KSIDC holding 51 per cent and FACT 49 per cent shares respectively.

The project will come up on 30 acres of land at Udyogamandal, Kochi, by the side of Vallarpadam Highway developed by National Highway Authority of India (NHAI). The location is just 2 km from NH 47 at Kalamassery and is mid-way between Kochi International Airport and Vallarpadam Transshipment Container Terminal.

The project encompasses permanent exhibition halls, a convention complex, a 5-star category hotel, commercial centre, and all supporting facilities for conducting conventions and trade fairs.

Taken from Business Line