Work on international stadium at Lucknow gains momentum

Lucknow, Aug 25 (IANS):

The ambitious project of building an international class stadium and cricket academy in the state capital has gained momentum with the appointment of three companies as consultant and transaction advisors for implementing the project.

The companies – Consortium of Innovest Advisory Services Pvt Ltd, Uttrakhand Infrastructure Development Co. Ltd (U-DeC) and Infrastructure Development Finance Company Ltd (IDFC) – have been roped in as consultant and transaction advisors for implementation of the project.

For the project, being developed through Public-Private partnership (PPP) mode, the consultant will be required to prepare a financially attractive plan along with techno-economic report within a stipulated timeline to attract the best players in stadium construction, an official said Friday.

The Infrastructure and Industrial Development Commissioner (IIDC), Anil K. Gupta said: “Although Uttar Pradesh has many players in the Indian cricket team, the state lacks a cricket stadium of international standards.

“As per the wishes of Chief Minister Akhilesh Yadav, development of an international cricket stadium and academy is being taken up on priority. The state government will ensure its development in a time-bound manner,” he said.

With such a vast pool of cricketing talent available here, it was all the more important to encourage budding cricketers by registering the state’s capability in holding international matches also, said Gupta.

In the first phase, construction of international cricket stadium and cricket academy is proposed in about 50 acres of land area, whereas 37 acres will be used for real estate to make it commercially viable, he added.

While the estimated project cost is around Rs.300 crore, the proposed stadium will have a seating capacity of around 50,000 spectators. In the second phase, it is proposed to develop additional sports infrastructure for indoor games, aquatics, hockey, football, track and field, among others.