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The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the development of Exhibition-cum-Convention Centre (ECC) at Dwarka and allied infrastructure in PPP and non-PPP Mode (including Exhibition & Convention spaces, arena, trunk-infrastructure, Metro/NHAI connectivity, hotels, office and retail spaces etc.) at an estimated cost of Rs. 25,703 crore by year 2025.
A new Government company will be incorporated as a Special Purpose Vehicle (SPV) for the implementation and development of the project with 100% equity from Government through Department of Industrial Policy and Promotion. Government of India will provide budgetary support of Rs. 2037.39 crore to the SPV as equity over a period of 3 years to fund trunk infrastructure, a part of Exhibition centre, Foyer, Convention Centre, Metro connectivity, NHAI road connectivity including cost of land to be paid to DDA, water & Sewerage infrastructure, Railway land for Metro Connectivity and expenses towards other Non-PPP components.
The government plans to mobilize Rs. 1,381 crore from the market as Government guaranteed loan and utilize Rs. 4,000 crore by way of monetization of Government-owned land and annual project revenue by the SPV. The proceeds from land monetization and annual returns accrued by the SPV will be utilized for funding the non-PPP components of the Project.
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.
Phase-1 of the project comprising trunk infrastructure along with Exhibition cum Convention Centre will be implemented and commissioned by December 2019. These will be implemented as non-PPP component. Phase-2 of the project comprising of the remaining Exhibition area will be implemented by 2025. The components comprising hotels, retail space and offices will be implemented in PPP mode.