Shillong, May 31 (UNI) The Meghalaya Tourism Development Corporation (MTDC) will develop a hotel under the Private-Public Partnership (PPP) mode, the first venture of its kind in the state's tourism sector.
Official sources said here today that the corporation will lease the property, along with the hotel building, under a well-drawn agreement, to a private developer for its management as well development.
''The hotel will be on lease basis with the rental to be paid to the MTDC,'' the sources added.
Construction work of the hotel project was mired in controversy after which the project was stalled during 1996.
The state government later decided to take up the unfinished work under the PPP mode and the MTDC would be responsible for all aspects of the construction.
The company, quoting Rs 98.99 crore, was selected as the highest bidder. The amount will be paid to the MTDC in 33 years with an initial annual payment of Rs 173.33 lakh.
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