Foundation stone laid for convention centre

Thiruvananthapuram: Work on a convention centre complex at Akkulam near the city started with the Chief Minister, Mr V.S. Achuthanandan, laying the foundation stone for the complex.

Expected to make the city a major destination for MICE (meetings, incentives, conventions and exhibitions) tourism, the convention centre is being set up as a joint venture between Kerala Tourism and Chalet Hotels Ltd of the K. Raheja Corp.

While the State Government will have a 26 per cent stake in the venture, the remaining 74 per cent will be held by K. Raheja Corp.

The total investment in the venture is expected to be around Rs 805 crore, making it the single largest investment in Kerala’s tourism sector, said a tourism official.

Occupying an area of 18.61 hectares, the convention centre complex will be implemented in two phases under the build-own-operate-transfer model, with a lease period of 90 years.

The first phase of the project is expected to be completed by 2011.