GTDC close to finalising Cos to develop its properties

GTDCMargao: The Goa Tourism Development Corporation (GTDC) is likely to finalise the companies by next month to develop its properties located at, Colva and Kesarval.

After proposing to develop a five-star boutique hotel at Colva, GTDC floated a tender in February for the Colva beach property admeasuring 17,500sq m.

At its Kesarval property, it wants to build a corporate out-bound and five-star hotel with expectations to earn a cumulative revenue of 2,000 crore for a 25-year period.

The properties will be developed under joint ventures. The government has also reduced the earnest money deposit from 75 lakh to 30 lakh for the project at Kesarval.

It is to be noted that after receiving bids from successful bidders, a bid evaluation report will be prepared to identify the preferred developer for the properties identified.

A concession agreement for development of the property would then be signed between GTDC and the preferred bidder.