The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of redevelopment of Pragati Maidan by India Trade Promotion Organisation (ITPO).

The redevelopment of Pragati Maidan includes setting up of a world class Integrated Exhibition-cum-Convention Centre (IECC) at Pragati Maidan, New Delhi.

The total cost of the proposed project will be Rs 2,254 crore. ITPO will use Rs 1,200 crore from its free reserves to fund the project, while it will raise institutional loan / soft loan / external aid / land monetization for the remaining amount, with government guarantee for the amount of institutional loan.

The project will be executed in two phases, where Phase-I will be the redevelopment of around 3.26 lakh sq mtr, which is expected to be completed by May 2019. After redevelopment, the exhibition space will be doubled to 1.19 lakh sq mtr from the present 65,000 sq mtr.

The project also includes creation of a convention centre with a seating capacity for 7,000 persons.

The National Buildings Construction Corporation (NBCC) is the project management consultant. ITPO will invite global bidding for selection of the project executor.

A grade separator will be provided at Mathura and Bhairon road junction to ease road traffic. A direct connectivity through subway from Mathura Road to Ring Road across Pragati Maidan will be provided.