Kochi

KMRL moots Bliss City at Kakkanad

Plan to mobilise non-ticketing revenue

Kochi Metro Rail Limited (KMRL) is banking on revenue from a Bliss City, which it has mooted in approximately 34 acres of land at Kakkanad, to mobilise non-ticketing revenue for Kochi metro.

This is one among the five major infrastructure projects in Kerala that Abu Dhabi Investment Authority (ADIA) is interested in investing. A decision was awaited by January, said KMRL sources.

Operational break-even

The aim is to make the metro achieve operational break-even at the earliest. For this, 17 more acres (than what was planned earlier for an integrated metro township) will be acquired in Kakkanad.

Consultancy firm KPMG had been entrusted with the task of readying a study report and suggesting proposals on the apt business model, said KMRL sources.

“The concept of an approximately ₹1,500-crore Bliss City is hitherto unheard of in India. Under this, we plan to have offices, open theatres and the like on the premises. The target groups include city dwellers who will have a new arena for entertainment, apart from domestic and foreign tourists. The earlier plan to devote more space for residential units has been scaled down. Kakkanad does not even have a modern theatre now,” they added.

Township proposal

KMRL was earlier banking on ₹300 crore from the sale of affordably-priced residential apartments, commercial space and entertainment amenities on a 17-acre integrated township at Kakkanad, to meet the metro’s operation and maintenance expenses.

The plan was readied in early 2018, when the metro was making ₹19 lakh operational loss per day. The loss was subsequently lessened to ₹12 lakh per day and lesser during subsequent months, following revenue from advertisements in metro stations and on pillars and trains. Rent from commercial space too lessened the metro agency’s revenue-expenditure gap. Another plan was to raise non-ticketing revenue from a Metro Village located at Muttom, in 230 acres of wetland.

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Printable version | Feb 21, 2020 7:25:46 PM | https://www.thehindu.com/news/cities/Kochi/kmrl-moots-bliss-city-at-kakkanad/article30071002.ece

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