PANJIM: The Economic Development Corporation Limited, the State-owned financial institution, is all set for expansion of Patto Plaza Complex with its Phase II project at Old Goa-Kadamba national highway at an area admeasuring two lakh sq mts.
The EDC Ltd had developed a vast land area of about 1,77,000 sq mts at a prime location in Panjim city, in the year 1985, near the Kadamba bus stand, called as Patto Plaza — the commercial hub of Goa, where plots have been leased out to various Central and State government offices, banks, financial institutions, hotels among others.
Addressing media persons on Thursday, EDC Chairman Sadanand Shet Tanavade said that the Corporation is in process of acquiring 2 lakh sq mts of Comunidade land at Old Goa-Kadamba highway area for Phase II of EDC Patto Plaza.
“The details of the projects are yet to be worked out. But we intend to have more plots which would be rented out to corporate offices. This will also help in generating employment to locals,” he said.
The EDC on Thursday held their 46th Annual General Body meeting.
The chairman said that for the financial year 2020-21, the Corporation earned a profit of Rs 67 crore, while for the FY 2021-22 the profit might witness a drop due to declined interest rate of various schemes. “The provisional balance sheet shows Rs 50 crore profit during the just concluded financial year,” he said.
The AGM accorded its approval for handling over Rs 86 lakh Dividend to the government.
