KMRL to spare space near stations to mop up revenue
The Hindu
EoI invited to lease out 2.40 acres to private players to develop infra on PPP mode
Aimed at mobilising alternative revenue from commercial development of open spaces in select metro stations, Kochi Metro Rail Limited (KMRL), which is staring at a widening gap between revenue and expenditure, has invited Expression of Interest (EoI) to lease out 2.40 acres to private players, to develop infra on public-private partnership mode. The metro agency has invited EoI to develop commercial spaces and share revenue from them at Aluva and Edappally stations and the upcoming station at Vadakkekotta in Thripunithura. “The revenue will be shared between KMRL and the private partner, while KMRL will in addition get an annual licence fee. The response to the EoI will be known in a few days, following which Request for Proposal (RfP) will be floated in a month. The period of long-term lease has been set at 50 years now. The exact tenure and conditions will be specified in the RfP, based on the response to the EoI,” metro sources said.More Related News
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