M3M Signs MOU with China for Building Exposition Centre
Indian real estate development firm, the M3M group will be partnering with one of the top Chinese showcase development firms with the objective of building a large Expo-Center in New Delhi. It is estimated to be a multi-billion dollar investment.
The Xin Ji Group of showcase developers from Guangzhou, China announced an MOU with the M3M Group, an Indian real estate development firm. The former is known for supplying various hotel and residential equipment to different parts of the world.
Objective: The two groups have signed this project aiming to build a large Exposition centre in Delhi and this is expected to be a multi-billion dollar worth of project. Director of M3M Group, Pankaj Bansal expressed his pride to be able to jointly co-work with this Chinese firm which has the reputation of delivering world-class products and expects this project to be a largely beneficial one.
The Exposition Centre: The objective of building the exposition centre in Delhi will be largely beneficial and is also stated to be the first of its kind in India. The project shall span over a range of 500 – 1000 acres. The land is yet to be determined for the upcoming project.
It is expected to have large international standard Conventional Arenas, Showrooms, Exhibition halls and various other allied developments that will make it truly world class.
Having all elements into a single space, the exhibition centre will become a single point that will showcase window and business interface for extended segment of manufacturers and service providers – this was reported to be Bansal’s words at the press release stating facts on the development of the Exposition Centre.
How the Country Benefits: The Indian Consul General, K Nagaraj Naidu living in Guangzhou commented on this joint venture saying that if such an MOU does materialise, it will prove to be of vital importance to the progress and development of exposition in India. Very few exposition centres exist in India, other than those like Pragathi Maidan; and having such a world class expo-centre will aid in showcasing Indian products without any hindrances.
China too has made good progress in developing expo-centres in different parts of the world other than those in China itself including Shanghai and Guangzhou. Annual fairs are conducted regularly which are attended by buyers from all parts of the world.
Source: The Economic Times
