GCDA Approves the Design and Concept For Project by Kitco Ltd

25 March 2013
Kochi

The executive committee of the Greater Cochin Development Authority (GCDA) has approved the design and concept presented by Kitco Ltd for constructing the proposed underground exhibition centre at Jawaharlal Nehru International Stadium.

The technical consultancy organization, Kitco, was shortlisted along with other four construction firms – Kumar Group, Ajit Associates, Karche Associates and Mir Group – for presenting the design. “The authority has already prepared project and feasibility reports. We will also make a report of the selected design and submit it for government approval,” said GCDA chairman N Venugopal.

Kitco submitted a financial bid quoting 0.72% of the total estimated cost of Rs 85 crore. According to GCDA officials, Kitco will have to prepare a detailed estimate based on the cost approved by the PWD.GCDA has made a budget allocation of Rs 30 crore for executing the project and is holding talks with various banks to get a loan to the tune Rs 60 crore. Venugopal said the state government would not have any financial liability by approving GCDA’s projects.

Source– http://articles.timesofindia.indiatimes.com/2013-03-25/kochi/38009716_1_gcda-kitco-indoor-stadium

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