With 6 projects on the block, GCDA keeps fingers crossed

Tender formalities finalised on two projects

After placing six of its showpiece projects before potential investors under the Public Private Partnership mode at the Partner Kerala investors’ meet, the Greater Cochin Development Authority (GCDA) is keeping its fingers crossed hoping that the projects would take off.

However, of these projects, GCDA had already finalised tender formalities on two projects — tethered helium balloon at Marine Drive at an estimated cost of Rs. 15 crore and a shopping mall at Manapattiparambu complete with entertainment zone and food court on 2.70 acres at an estimated cost of Rs. 181.89 crore. Tender formalities have been initiated for tunnel marine aquarium and entertainment park at an estimated cost of Rs. 85 crore.

“We will not be revisiting the projects in which tender formalities have been completed. In fact, only a Kolkata-based company has the licence to set up helium balloon. We have signed Expression of Interest (EOI) with three prospective investors in the case of marine aquarium since the tender procedures were in the initial stages,” GCDA chairman N. Venugopal told The Hindu.

The agency managed to sign EOIs with two companies for its ropeway project at Marine Drive, with one company for its regional sports complex at Mundamveli and with three companies for its mall project at Ambedkar stadium.

Mr. Venugopal said further consultations would be held with the companies concerned within next ten days. “Our projects are very realistic and hence our consideration when it comes to prospective investors would be their financial capacity, expertise and experience in implementing projects. We would have gathered all these information by the time we sit down for consultations,” he said.

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Printable version | Apr 10, 2020 7:14:12 PM | https://www.thehindu.com/news/cities/Kochi/with-6-projects-on-the-block-gcda-keeps-fingers-crossed/article5728521.ece

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