The Business Line 09.08.2009
TN plans to develop MRTS station space commercially
R. Balaji
Chennai, Aug. 9
The Tamil Nadu Government is examining a Rs 136-crore commercial development space available at three of the MRTS (mass rapid transit system) stations to recover its investments in the project.
According to sources, the project for the development of commercial space at MRTS stations would involve public-private partnership to use the space available above the platform level at the stations in Taramani, Perungudi and Velachery.
The sources said the objective would be to develop the space with private sector participation on BOT (build-operate-transfer) basis with the private players investing in the construction and handling the operation and maintenance for a 25-year concession period. The Government’s contribution would be the land and provision of utilities.
The Government’s share of revenue from the project is expected to compensate for its investment in the MRTS project. Tamil Nadu has invested a third of the Rs 734 crore in the MRTS project with the Railways bringing the main contribution.
The other projects include a Rs 475-crore re-development, operation and maintenance of the private bus terminus at Koyambedu; and operation and maintenance of the fruit and vegetable wholesale market and the biomethanation project at Koyambedu.
