Fiera, Ambuja bid for fair site

Fiera Milano Spa, one of the world's leading organiser of trade shows and conventions, has bid for developing a state-of-the-art trade fair complex in Kolkata.

The Italian group has tied up with real estate development company Bengal Ambuja for the project.

"Our company along with Fiera Milano have submitted expression of interest for building the fair complex," Harshavardhan Neotia, director of Bengal Ambuja told Business Standard.

The hospitality industry in the city has been working hard to make it a venue for MICE (meeting, incentive, convention, exhibition) and tourism related activities. A number of new hotels has come up in Kolkata in the last few years. The lack of a permanent exhibition and trade fair complex has undermined the effort.

Fiera Milano is a group of several companies which runs exhibition areas organises shows and conferences and supplies all promotional and fair services.

The parent company includes various branches, each of which is a specialist in its field of activity - from organisation of exhibitions, fittings; quality food services, organisation of conferences and conventions; marketing exhibition-related services through the internet; publication of trade magazines, catalogues and graphic arts products for exhibitions and conferences.

The trade fair ground in Kolkata will be spread over 17 acres. A special purpose vehicle (SPV) has been created by Kolkata Municipal Corporation (KMC), West Bengal Industrial Development Corporation (WBIDC) and India Trade Promotion Organisation (ITPO).

While ITPO holds 51 per cent stake in the SPV, the rest has been equally shared between KMC and WBIDC. Initial estimate shows the minimum cost of the project, excluding the valuation of the land, would be about Rs 25 crore. However, the cost may go up if new features are added to it.

Gopal Krishna, managing director of WBIDC, said the construction work for the project would start after the monsoon.

"We have sought EoI for which number of companies have submitted their bid. We are in the process of sending the tender document to them. A price bid will be called after that," he said.

Industry sources said Fiera Milano stood good chance to grab the prestigious project even as large domestic construction companies has also bid for it.