Yashobhoomi ph-2: ₹20K cr private investment targeted

After the inauguration of the ₹5,400 crore first phase of India International Convention and Exhibition Centre (IICC), the government now plans to attract private investments to the tune of nearly ₹20,000 crore for the second phase of the project which includes 3,500-room hotels and with 4.50 million square feet of office and retail developments, according to officials aware of the matter.

- Rajeev Jayaswal

Yashobhoomi phase one having massive conference tourism infrastructure was inaugurated by Prime Minister Narendra Modi on September 17, paving the way for the second phase of the ₹25,703 crore project, an official said requesting anonymity.

"World-class infrastructure created in the first phase and entirely funded by the government, makes the second phase attractive for private firms. Now the government will invite global bids in phases to make Yashobhoomi a global conference tourism destination that would generate over half-a-million additional jobs," the official said, requesting anonymity.

The second phase involves construction of eight hotels three five-star and four-star hotels, and two three-star properties and service apartments with a total of 3,500 rooms inside the complex.