No bidders, IDA’s convention centre project shelved for now

Indore: Indore Development Authority’s (IDA) plan to construct a mega convention-cum-exhibition centre on Super Corridor has faced a setback after the initial bidding process closed without attracting a single developer.The Rs 545.77 crore project, designed under a Public-Private Partnership (PPP) model in Scheme-172, will now require a complete restart of the tendering process.The proposed complex spans 17 hectares. Under the structural guidelines, IDA only provides the land parcel, shifting the entire financial burden of design, funding, construction, and operations onto the selected private developer.Industry insiders suggest the lack of participation stems from stringent contract terms.

The contract dictates a tight three-year construction window coupled with a 45-year maintenance and management lease. While the developer receives free-hold rights over the 6-hectare commercial segment, the primary 11-hectare convention structure must be handed back to the IDA upon lease expiration.IDA CEO Parikshit Jhade confirmed that the bidding phase concluded with zero participants. The authority is currently reviewing suggestions raised during the pre-bid meetings and is expected to re-engineer the tender criteria before launching a second round of bidding.