The Tamil Nadu Industrial Development Corporation (TIDCO), on behalf of the Sports Development Authority of Tamil Nadu (SDAT – official sports organization of the Government of Tamil Nadu), has invited Expressions of Interest (EOI) to develop an international-standard cricket stadium along with a commercial complex in Coimbatore (City in Indian State of Tamil Nadu).
‘THE NEW INDIAN EXPRESS’ stated that as per a document, the ambitious project will come up on a total area of 30.18 acres, divided into two parcels, 20.18 acres for the stadium and 10 acres for a commercial complex. The stadium will be located along National Highway 81 making it easily accessible from the City and the nearby districts.
Chennai (India)-based the Tamil Nadu Industrial Development Corporation (TIDCO) is a Government agency established in 1965 to promote large and medium-scale industrial development in the State of Tamil Nadu by partnering with the private sector. It serves as a promotional arm for the Government, identifying projects and fostering industrial growth through the joint ventures, and has a history of partnering with the major Indian companies.
TIDCO’s objective is to facilitate industrial projects across a wide range of sectors and infrastructure development and it recycles funds from its projects into the new ventures.
‘THE NEW INDIAN EXPRESS’ further stated that the facility is expected to meet all international cricketing standards with a proposed seating capacity of 25,000 to 30,000 spectators. It will also include world-class infrastructure such as practice nets, dressing rooms, Corporate Boxes, VIP and media enclosures, retail spaces, food courts, player and match-official amenities, and extensive parking facilities. The adjoining 10-acre commercial zone will include mixed-use developments aimed at ensuring the project’s financial sustainability.
The TIDCO plans to implement the project under the Design-Build-Finance-Operate-and-Transfer model through a public-private partnership. The concessionaire will design, finance, construct, and operate the stadium for a period of 60 years before transferring it back to the Government. A special purpose vehicle (SPV) will be formed by the selected developer in which the SDAT will hold a golden share and be represented by two nominees on the Board.
Interested firms and consortia (limited to a maximum of two members) have been invited to submit the proposals. The final deadline for submission of applications is November 24th.
Eligibility criteria require applicants to have prior experience in large-scale infrastructure projects valued at a minimum of Rs 300 crore or a built-up area of at least three (3) lakh sq ft. They must also have an average annual turnover of Rs 300 crore over the past five financial years.
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