In a significant development, the union cabinet last week approved over $5 billion project for the development of Exhibition-cum-Convention Centre (ECC), at Dwarka, New Delhi. Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) will act as a knowledge partner for the project on payment of an annual fee @1% of the yearly internal accruals, subject to a minimum of Rs. 5 crore and maximum of Rs.10 crore per annum for an initial period of 10 years.
The project will be executed in a phased manner: Phase-1 of the project comprising trunk infrastructure along with Exhibition cum Convention Centre will be implemented and commissioned by December 2019. Phase-2 of the project comprising of the remaining Exhibition area will be implemented by 2025. It is estimated that the proposed ECC facility, once fully operational, will infuse a demand for more than 100 major international and local exhibition events annually. The number of persons visiting the exhibition facility annually (paying visitors) is estimated to be more than 10 million in the first phase (2019-20) and 23 million after completion of the second phase (2025). Similarly, convention based delegate attendance is estimated to cross 1.5 million annually after successful completion of second phase of the project.
Project is estimated to generate over five lakh direct and indirect employment opportunities.