The project, awarded by Emaar properties, is being developed in partnership with Andhra Pradesh Industrial Infrastructure Corporation Ltd, a state government agency, to construct the convention centre for the Asian Development Bank's biennial meeting to be held in May next year.
The 4,000-seating capacity of the centre will be India's largest and most technologically advanced convention facility. It will be an integrated 291,000 sq.ft facility abutting a 300-room business hotel on 15 acres of land.
The centre will be equipped with several automated features and modern amenities.
"Emaar stringently applies the best international practices on all its real estate developments and we are delighted that Larsen & Toubro have matched our expectations," Mohamed Ali Alabbar, chairman, Emaar Properties, said.
Emaar has already engaged a Scottish firm RMJM as architects for the building, scheduled for completion in December 2005.
Also being developed by Emaar is Boulder Hills, a world-class leisure and residential community in Hyderabad. The total cost for both these projects is estimated at 492 million Dirham.