Mumbai Metro-3 ‘sells’ naming rights for five stations for Rs 216 crore


Mumbai, Sep 21 (IANS) In an imaginative switch, the Mumbai Metro Rail Company Ltd. (MMRCL) has granted naming freedoms for 5 stations on the Colaba-BKC-SEEPZ Metro-3 line for an unbelievable Rs 216 crore, a extreme ranking advisor expressed proper right here on Wednesday.

The non-charge earnings revenue shall be accessible for a time of a really very long time from the dispatching of the highway, anticipated by 2023-end, in entire procuring Rs 216 crore with 5% yearly heightening, or over Rs 40 crore for every annum, acknowledged MMRCL Overseeing Chief Ashwini Bhide.

The 5 stations for which the naming freedoms have been given are: Bandra Kurla Complex, Chhatrapati Shivaji Maharaj End to Kotak Mahindra Bank, Siddhivinayak Metro Station to ICICI Lombard, other than Churchgate and Hutatma Chowk Metro stations to LIC.

These organizations shall be licensed for marking home contained within the station, a uncover in put together declarations and station maps, together with pre-fixing their image names to the station determine granted to them.

“This is the most vital move towards producing non-charge box income that will ease financing and keep the passages sensible for the workers,” acknowledged Bhide.

She added that the standard worth acknowledged of Rs 8 crore ($1.1 million) per station yearly might be probably the most elevated in India and among the many many most elevated on the planet, beating metros in Dubai, Madrid, Jakarta, and Kuala Lumpur which arrived on the midpoint of upto $1 million for each station yearly.

With the consortium of Auctus Guides StudioPOD taking excellent care of the offering system, the MMRCL plans to welcome supplies for the naming freedoms of the excess stations on the Metro 3 shortly.

The preliminary makes an try for city’s most memorable completely underground Mumbai Metro-3 had been begun on August 30 similtaneously the obligation purchased impeded as a consequence of a line over the carshed, prompting worth heightening and delays.

The work on the Rs 37,000 crore, 33.50 kms Metro 3 passageway began in 2016 and the precept stage is likely to be going to be accomplished by end-2023, connecting Colaba in south Mumbai to SEEPZ in north-west, by the use of BKC, with 26 underground stations and one at ground stage.

Around the overwhelming majority of the passage digging work is accomplished and the ultimate endeavor execution stays at spherical 70%.

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