The proposed Bliss City project at Kakkanad, which is anticipated to improve the region’s infrastructure significantly, would be implemented by The Kochi Metro Rail Ltd (KMRL) through a public-private partnership (PPP). It is based on the Design Build Finance Operate and Transfer (DBFOT) model. It has been heard that by July 25, KMRL will publish an expression of interest describing the project. The Bliss City has taken the responsibility to take over the Kochi Metro expenses and the Kochi metro maintenance.
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Industrial Houses Evince Interest in the $3,000 Crore Kakkanad Project!
The Kochi Metro Rail Limited (KMRL) plans to build Bliss City on 31 acres in Kakkanad. The project aims to generate alternative money for the metro’s operation and maintenance. Four industrial houses are among the companies that have indicated an interest in the project.
The government had allotted the metro agency 17 acres, and the remaining land would likely be given when the venture’s planning moves forward. Most urban agencies across the nation rely on income from these real estate holdings to offset operational and related losses.
Plan to Entice Investors
The KMRL has prepared a 3-D design and is preparing a marketing plan to entice investors to the project for the Kochi metro operation. This will be a carbon-neutral city inside a city when it is completed in another five years. The investor will prepare the infrastructure that KMRL leases out. Since Kerala is already a trusted, well-known brand in these industries, emphasis was placed on healthcare and entertainment, according to sources in the metro agency.
Medical care will meet all international norms and be at par with global standards. They might also consist of streams from AYUSH. Revenue generated from Bliss City and reaching the 2 lakh mark of daily commuters will enable the Kochi Metro and Kochi Metro station to become a self-sustaining form of rapid mass transit, especially since the soft loan (from the French development assistance agency AFD) must be repaid in 25 years. The State government will no longer be under as much financial strain. Since advertisements and commercial spaces would bring in more money, more foot traffic in the metro is also anticipated to result in higher non-ticketing income.
Digital adverts are also expected from advertisers; each panel will display about a dozen alternately. It is known that KMRL is now developing a solid marketing plan to mobilise alternative revenue.
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What all will the Bliss City Feature?
According to a KMRL source, the city would feature IT parks, clinical urban communities, educational centre points with unfamiliar college environments, etc., and entertainment and sporting points. “KMRL will help investors obtain government approval for their projects. Besides considering the major players in India, we’ll also encourage overseas companies to invest. The insider stated that we could go on to the project’s Request for Proposal (RFP) phase based on the investors’ responses to the Expression of Interest (EoI). It has been learned that the project’s IT division would prefer companies that are well-known internationally in the fields of cutting-edge technologies, including artificial intelligence (AI), robots, blockchain, and cyber security. An example of an entertainment and recreational hub might be a multiplex theatre, a mall, a sports stadium, etc.
The Bliss City would also have a hub for healthcare facilities and medical tourism, offering its guests specialised medical care of an international calibre.
