The Greater Cochin Development Authority (GCDA) has decided to lease out the stadium to the KCA for 30 years.
Welcoming the decision, KCA President T C Mathew said this was the first step towards Kochi becoming a permanent venue for international Test, ODI, Twenty20 and IPL matches.
KCA would take steps to modify the stadium with modern amenities and structural modifications will be finalised after consultations with GCDA, he said in a statement here.
The venue was the host of the first India-West Indies ODI on November 21 which the home team won by six wickets.
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