The Kerala State Industrial Development Corporation (KSIDC) and Fertilizers and Chemicals Travancore (FACT) have signed a memorandum of under standing (MoU) for setting up a trade centre at Kochi.
The MoU, involving an investment of Rs 400 crore, was signed between Alkesh Sharma, managing director, KSIDC, and V G Sankaranarayanan, director - technical of FACT, in the presence of state industries minister Elamaram Kareem.
A joint venture company would be formed for promoting the centre with KSIDC holding 51 per cent and FACT 49 per cent shares respectively.
The project would come up on 30 acres at Udyogamandal, near Kochi and comprise permanent exhibition halls, a convention complex, five-star hotel, and commercial centre among others.
According to KSIDC, around 30 types of fairs and events could be conducted in the proposed centre.
The centre would offer scope for attracting various international as well as domestic events and have a capacity to accommodate around 4,000 persons, a release said.
The proposed centre could also serve as an anchor for other projects to develop and foster tourism growth in the region.
