Tamil Nadu plans to develop MRTS station space commercially

The Tamil Nadu Government is mulling a Rs 136 crore commercial development space available at three of the Mass Rapid Transit System (MRTS) stations.

According to sources, the project is likely be developed through PPP, to use the space available above the platform level at the stations in Taramani, Perungudi and Velachery. The objective is to develop the space with private sector participation on BOT basis. The private players will invest in the construction and handling the operation and maintenance for a 25-year concession period while the state will provide land and provision of utilities.

The state 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 Union Ministry of Railways bringing the main contribution.


Source : ProjectsToday

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