+
Namma Metro to float tender for prefix rights
RAILWAYS & METRO RAIL

Namma Metro to float tender for prefix rights

Namma Metro is gearing up to introduce a new concept termed 'semi-naming rights', allowing sponsors to have their organisation's name as a prefix to existing metro stations. Previously, this opportunity was only available for upcoming stations. The Bangalore Metro Rail Corporation Limited (BMRCL) will initiate the process of inviting tenders for these semi-naming rights after obtaining approval from the BMRCL board and the state government.

Under the 'Naming Rights' policy sanctioned by the government, organisations contributing Rs 650 million towards any station on upcoming metro lines are entitled to have their name as a prefix to the station. This move aims to mobilise private funding for metro projects, easing the financial burden on the government. Similar policies are also in place in cities like Delhi and Mumbai.

Previous instances include the Electronic City station on the Yellow Line, which will feature the prefix 'Infosys' after the company contributed Rs 1 billion towards its construction and maintenance in 2018. Similarly, the Sampige Road Station already bears the prefix 'Mantri Mall'. While some commuters see this as a mutually beneficial arrangement, others argue against private corporations influencing the naming of public transport stations.

There have been instances of contention, such as the disagreement over naming the Hebbagodi metro station 'Biocon Hebbagodi', despite Biocon Group's significant contribution of Rs 650 million towards its construction. Concerns have also been raised regarding delays and uncertainty at the Bettahalasur Metro Station due to funding issues with the Embassy Group, emphasising the need for clear guidelines and accountability in such naming policies.

(Source: ET Infra)

Namma Metro is gearing up to introduce a new concept termed 'semi-naming rights', allowing sponsors to have their organisation's name as a prefix to existing metro stations. Previously, this opportunity was only available for upcoming stations. The Bangalore Metro Rail Corporation Limited (BMRCL) will initiate the process of inviting tenders for these semi-naming rights after obtaining approval from the BMRCL board and the state government. Under the 'Naming Rights' policy sanctioned by the government, organisations contributing Rs 650 million towards any station on upcoming metro lines are entitled to have their name as a prefix to the station. This move aims to mobilise private funding for metro projects, easing the financial burden on the government. Similar policies are also in place in cities like Delhi and Mumbai. Previous instances include the Electronic City station on the Yellow Line, which will feature the prefix 'Infosys' after the company contributed Rs 1 billion towards its construction and maintenance in 2018. Similarly, the Sampige Road Station already bears the prefix 'Mantri Mall'. While some commuters see this as a mutually beneficial arrangement, others argue against private corporations influencing the naming of public transport stations. There have been instances of contention, such as the disagreement over naming the Hebbagodi metro station 'Biocon Hebbagodi', despite Biocon Group's significant contribution of Rs 650 million towards its construction. Concerns have also been raised regarding delays and uncertainty at the Bettahalasur Metro Station due to funding issues with the Embassy Group, emphasising the need for clear guidelines and accountability in such naming policies. (Source: ET Infra)

Next Story
Real Estate

Out-of-the-Box Office!

A sustainable and cost-effective trend for businesses looking to redefine their work environments is the reuse of discarded shipping containers that are otherwise left to rust in shipyards. Paving the way for new-age temporary structures based on environment-conscious construction principles, SAGI Architects recently opened a prefabricated sales office – using four shipping containers – for Silverbay, an upcoming luxury residential project by Transcon Developers in Bandra West, Mumbai.Founded in 2014, SAGI Architects is a multidisciplinary architecture and interior design practice based in..

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

DGTR Proposes Anti-Dumping Duty on Aluminium

The Directorate General of Trade Remedies (DGTR) has proposed imposing an anti-dumping duty of up to Rs.577 per tonne on aluminium frames imported from China, as reported by the Economic Times. This move aims to address concerns about unfair trade practices and protect the domestic aluminium industry from the adverse effects of low-cost imports. The proposed anti-dumping duty comes in response to allegations that Chinese aluminium frames are being sold in the Indian market at prices below fair market value. Such practices are deemed harmful to domestic manufacturers, potentially leading to ma..

Talk to us?