The state cabinet today approved the construction of the convention centre, which is planned to be built at Dona Paula, near here.
"The state cabinet has decided to have a convention centre, which will be constructed through PPP mode," Parrikar told reporters after the cabinet meeting.
The Entertainment Society of Goa (ESG), which is a local host for IFFI, would develop the convention centre to be constructed by creating a special purpose vehicle (SPV) under the state-run Economic Development Corporation (EDC), he said.
He said there is no need of a big construction agency to build the project.
"It is on PPP model...It is in fact a model, wherein the government will get a revenue," he added.
IFFI is currently hosted on the premises owned by the ESG in the heart of the city.
"EDC is nominated as joint partner to form a special purpose vehicle and it (EDC) will float all the tenders and develop the convention centre in two phases," he said.
The state government is planning to build a 5,000-6,000 seater convention centre, which will also have around 1,000 rooms for the accommodation, he stated.
Parrikar said that the committee headed by him will monitor the construction of the convention centre.
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