UK firm to find foreign investors for running JPNIC

LUCKNOW: Jai Prakash Narayan International Centre (JPNIC) may soon be an international destination of reckoning as its nodal agency LDA is set to advertise the project in the international market.
LDA has roped in UK-based company Knight Frank, a real estate consultancy, for global branding of the project and to scout for investors both from India and abroad for its operation and maintenance.

LDA has been looking for a suitable company to run JPNIC on a long-term lease. It even showcased it at the recent UP Investors' Summit but couldn't find any takers. However, convinced with the construction quality of JPNIC, LDA has now teamed up with the UK firm to find investors.

The teaming has started showing results with renowned companies from Singapore, Dubai and France seeking details of the project.

A senior LDA official said, "A company from Singapore came to see the project last week. A multinational company has also expressed interest. We are expecting another global giant to see the project on March 15. The queries have been encouraging and we hope to lease it soon."

The project offers many world-class facilities like a multi-storied hotel block with more than 107 rooms, a huge sports complex and an aquatic block with an Olympic-size swimming pool and facilities like badminton, squash, snooker and lawn tennis. There is also a huge convention hall with seating capacity of more than 2,000 people. LDA has spent crores on the project. It inaugurated its museum block in 2016.

The investor will take care of the entire JPNIC except the museum block, which is based on the life and ideology of Jai Prakash Narayan. That will continue to be run and maintained by LDA.

The UK company will help LDA in showcasing and advertising the project abroad. It will also help in formulating the terms and conditions and bid document for hiring the new company.

The guidelines will first be approved by the state government before floating it for tender.