STDC and IL

Gangtok, Jun 22 (UNI) The Sikkim Tourism Development Corporation (STDC) today signed a MoU with Infrastructure Leasing&Financial Services (IL&FS) for development of tourism related infrastructure in this Himalayan state.

Initial targeted areas for development are ropeway connecting places of tourism importance, development of air connectivity in Sikkim, high end hotel projects, high end tourist resorts and medium range hotels.

The MoU was signed between Mr R K Mathur, former chief secretary of Tripura and advisor of IL&FS and Mr L B Chettri, Chief Executive Officer, STDC.

Highlighting the tourism potential of Sikkim, Mr Mathur said, the state needs quality tourism and IL&FS will try to tap into this sector.

" After discussing with STDC, we will try to sell the identified tourism projects to investors," he said.

IL&FS has already created several tourism related projects like hotels and small airports in the other North Eastern states.

The selected areas for tourism infrastructure development in Sikkim will be under PPP format and developed on Built On Transfer (BOT) mode, said Mr Chettri.

Sikkim Tourism Secretary G K Upadhaya, who was present on the occasion, said a new beginning has been made to develop tourism projects which will not be a financial burden to the state government.

With the expertise of IL&FS and the attractive options that Sikkim commands, it is possible to attract investors in Sikkim, said Mr Upadhaya.

" Tourism is increasing in Sikkim by leaps and bounds. It is possible to think of bigger and ambitious projects," said the Tourism Secretary.

A committee has been formed from the representatives from STDC and IL&FS that will identify projects and areas for tourism infrastructural development. Things will start as soon as possible, IL&FS said.

UNI