Title - Kolkata Metro to invite bids for advertisement displays on pillars

It will take at least two years for the 15-km-long East-West Metro network to start operation. But that does not mean it will not start earning now.According to Mr Subrata Gupta, Managing Director of Kolkata Metro Rail Corporation Ltd (KMRC), the company will soon invite bids for advertisement displays on nearly 230 pillars across 6 km of elevated tracks passing through the IT hub at Salt Lake in the East.KMRC is a Centre-State joint venture initiative executing the Metro project partially funded by the Japan International Cooperation Agency (JICA). The first phase of the project from Salt Lake to Sealdah — covering approximately 9 km — is scheduled to be operational in March 2015.“We expect to invite bids for these advertisements within a couple of months once the pillars are constructed. Construction works are expected to be over by the end of this fiscal on the elevated stretch,” Mr Gupta said.According to market sources, one such metro pillar near the Salt Lake Sector V area could fetch nearly Rs 10,000 a month. The rate may go up depending on the exclusivity of the location, they added.

REAL ESTATE
For the residual 9-km track that will go underground through the central business district, the company is exploring opportunities to develop office and commercial spaces at the proposed Metro stations.

“We will build commercial and office spaces at the stations for additional earnings. A consortium of five consultants has already chalked out the plans to develop these properties,” Mr Gupta said.

KMRC will initially have parking lots as commercial spaces, he added.