| The chamber has been demanding land for developing the trade centre for the last three to four years. |
| A memorandum of understanding for the Rs 50 crore project had been signed between the chamber and the state government during the Vibrant Gujarat Meet. |
| Chief minister Narendra Modi had made a formal announcement regarding allotment of land to the chamber during a programme in Surat on May 30. |
| Allotment orders for the land for the project were issued by the state government on Monday. |
| Surat district collector Pankaj Joshi said, "We have received the allotment orders. Of the 1.30 lakh sq mt of land, 1 lakh sq mt will be allotted for developing a trade and industrial centre. The market price of the land is about Rs 2.80 crore, but the chamber has been given 50 per cent concession and the land will be allotted for Rs 1.40 crore." |
| "The remaining 30,000 sq mt land will be given to the chamber on lease for ten years and will be used for afforestation," said Joshi. |
| The chamber president Dinesh Mandalaywala, said, "We welcome the state government's decision to allot the land at Bhimpore to us. Developing a world-class trade centre has been our and we are glad that the first step towards fulfilling this dream has been taken." |
| "We will meet the Surat collector in a day or two and discuss the conditions imposed by the state government in the allotment orders. Once everything is sorted out, we will pay the amount and take possession of the land, so that work on the project can be started at the earliest," said Mandalaywala. |
| "We believe that every big city, especially a fast-developing city like Surat, should have a trade centre for the benefit of trade and commerce. It will help local industries a great deal in this era of global competition," said Mandalaywala. |
| "We want to develop more of a multi-activity centre, rather than a simple trade centre. It will comprise a convention centre, auditorium, commercial centre, library, data bank, seminar hall, permanent exhibition centre and a research and development institute," said Mandalaywala. |
| "The trade centre is not a small project. We are yet to reach exact estimates, but we believe that the total investments would be about Rs 50 crore. Funds for the project will come from various quarters. The chamber will certainly invest money in the project, but we will also seek help from the government, private investors and financial institutions," said Mandalaywala. |
| A gem and jewellery park is also proposed to be set up Surat. |
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