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An empowered panel on infrastructure of the Odisha government has given its in-principle nod to the establishment of a World Trade Centre (WTC) in the city.
The WTC, envisioned as a commercial centre to promote trade related activities, is being planned at an investment of Rs 250-300 crore.
"The location for WTC has been finalized. The centre will be set up on an area of 25 acres of land identified behind the Fortune Towers. A convention centre will also be established as part of the project for hosting conferences. The government will appoint a transaction advisor to chalk out the project modalities”, said Injeti Srinivas, development commissioner cum additional chief secretary.
Mumbai-based M Visvesvaraya Industrial Research & Development Centre (MVIRDC) has been selected as a co-promoter for the project along with Odisha Industrial Infrastructure Development Corporation (Idco). Both MVIRDC and Idco are to sign a memorandum of understanding (MoU), a draft of which is ready.
MVIRDC was selected on the ground that it has the required license for establishment of a WTC in Bhubaneswar.
The finance department has suggested that both Idco and MVIRDC should have equal rights in the management of the company.
The empowered panel also approved the four-laning of Sambalpur-Rourkela state highway, the project cost being Rs 1300 crore.
"For the Sambalpur-Rourkela state highway, the Centre will offer viability gap funding to the extent of 20 per cent of the project cost while the state will provide 16 per cent VGF”, said Srinivas.
Two municipal solid waste projects have been approved in Puri and Berhampur. Besides, the empowered committee has decided to convert 20,000 street lights into LEDs that will result in electricity savings of up to 80 per cent.
