Kochi metro’s Bliss City project may take InvIT route
The Hindu
‘Option may help lessen financial burden on KMRL’
Kochi Metro Rail may choose the InvIT mode to raise funds for its approximately ₹3,000-crore Bliss City project in Kakkanad so that the project can be executed without the metro agency availing loan for capital investment. The Bliss City has been envisaged as a wellness and wholesome entertainment destination in 31 acres of land in Kakkanad, to garner non-ticketing revenue for Kochi metro’s operation and maintenance. InvIT or Infrastructure Investment Trust funds are similar to mutual funds. While mutual funds provide an opportunity to invest in equity stocks, an InvIT allows one to invest in income-generating infrastructure projects. Even as land would continue to belong to the owner agency (in this case, KMRL), stakeholders who invest will be responsible for the project’s operation and maintenance.More Related News
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