In line with the Centre’s asset monetisation mandate, the union sports ministry has decided to redevelop the Jawaharlal Nehru Stadium (JNS) in the national capital to unlock value from optimal utilisation of its iconic sporting asset, according to a document. Also Read - Two-Time Olympic Badminton Champion Lin Dan Announces Retirement

A request for proposal (RFP) document posted on government think tank Niti Aayog‘s website said that the project will be executed with private sector partnership by leveraging the mixed-use/ real estate development potential available around the stadium. Also Read - All Apps Must Adhere to India's Data Integrity, Privacy: Niti Aayog CEO

The key objective of this project is to promote holistic development of stadium as per world-class standards for sports, supporting participation and excellence, at the same time redeveloping the unutilised and underutilised spaces for commercial activity so as to maximise the revenue streams through optimal and sustainable usage of available land resource, it said. Also Read - Happy Birthday, Leander Paes: 10 Interesting Facts You Should Know About The Legend

According to the RFP document, “the Ministry of Youth Affairs and Sports has decided to undertake the redevelopment/development of its sports infrastructure at JNS, New Delhi through public-private partnership (PPP) on design, build, finance, operate and transfer basis”.

It said the indicative cost of the project is Rs 7,853 crore based on the pre-feasibility study undertaken by Ernst & Young LLP. The overarching objective, the document pointed out, is to promote holistic development of the stadium complex based on an integral economic base that promotes world class standards for sports confirming to standards of International Olympic Committee (IOC), International Federation of Association Football (FIFA), World Athletics (IAAF) and other such international Sports bodies.

The aim is to make the stadium complex capable of hosting Olympic events and other multi sporting international events. The JNS complex spans over 102 acres of land that includes a main stadium arena with a sitting capacity of around 60,000, an indoor weightlifting auditorium, three football fields, two athletic tracks, two badminton halls, a table tennis hall, archery training zone and other sports facilities.

The JNS was constructed by the Government of India to host the athletic events and ceremonies of the 1982 Asian Games. It also hosted the 1989 Asian Championship in Athletics. The stadium was renovated/upgraded for the 2010 Commonwealth Games (CWG) for hosting the track and field events and for the opening and closing ceremonies. The stadium is designed and constructed to meet the standards of the International Federation of Association Football (FIFA) and the World Athletics.