KMRL to Explore Busines Utilisation in Metro Project.

Aimed to improve the financial viability of the Kochi Metro Rail project, the KMRL is planning to develop specific areas for commercial utilisation.

To discuss the potentials of property development, the KMRL conducted a round table conference on property development initiatives at Maradu recently.

KMRL managing director Elias George said that certain areas have been identified for property development, where it is proposed to put up iconic modern structures for commercial utilisation.

These include major stations at Aluva, Kalamassery, Kaloor, Ernakulam South as well as around 17 acres of land given by the state government at Kakkanad for property development.

The plan is to optimally utilise these areas to generate cash flows to support the Metro operations and capital expenditure. According to officials, approximately 1,20,000 square metres of space will be utilised. Experts from the realty, hospitality and banking sectors participated in the conference which was attended by nearly 40 companies. The companies include IL&FS, IFCI, Puravankara Group, Homestead India, Federal Bank, Lulu group and Emami Realty.

The feedbacks from participants will be submitted to the state government in two weeks.

'Recently Investor Meet has enabled the KMRL to obtain a better understanding of possible client requirements, which will help us design the proposed facilities at the station locations and at Kakkanad, for maximizing the commercial viability as well as for ensuring that the appurtenant facilities at the Metro stations provide a suitable mix of civic amenities for the passengers. A well-structured property development initiative is a critical aspect to make the Metro project viable and more user-friendly,'Elias George said.


THE NEW INDIAN EXPRESS