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Construction : Deals | March 2014 | Source : Construction Update

GoAP decides to divest its stake in HICC

Stakeholder / Agency: Andhra Pradesh Industrial Infrastructure Corporation (APIIC) Details: On behalf of Govt of Andhra Pradesh, the corporation plans to sell stakes in Hyderabad International Convention Centre (HICC). HICC is India's first purpose - built and state-of-the-art convention facility managed by Accor, the world's leading hospitality and tourism management group. Value: Not Decided About APIIC: Andhra Pradesh Industrial Infrastructure Corporation Ltd. (APIIC) was incorporated on 26th September, 1973 with Authorised Capital of Rs.20.00 crore and paid up capital of Rs.16.33 crores. APIIC is a wholly owned Undertaking of Government of Andhra Pradesh. The corporation is vested with the objective of providing industrial infrastructure through the development of industrial areas. The corporation is the principle facilitator in Mega Projects like Special Economic Zone, Visakha Industrial Water Supply, Gangavaram Port, Convention Centre, Mega Industrial Parks at Parawada , Pashamylaram Financial District Hardware Park at Hyderabad. The Corporation has to its credit the execution of civil works for various Government Departments. It has executed works covering Referral Hospitals, Navodaya Schools Polytechnic Buildings Court Complex, Building and Hostel for Indian Institute of Information Technology. Government entrusted the responsibility of constructing Games Stadia and Games Village for the National Games on Project Management Basis. The Corporation is the Nodal Agency for Government Sponsored scheme like Growth Centres, Export Promotion Industrial Parks, Integrated Infrastructure Development Centres.
 
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