KOCHI: The Kochi Metro Rail Ltd is planning to set up vertical gardens along the Kochi Metro Rail corridor, by utilizing the pillars.
As part of the green initiative, the agency is trying to explore the available space, including the median along the proposed Kochi Metro Rail corridor, for the garden.
Considering the fact that many Metro Rail networks across the globe have identified the potential of revenues from non-fare box sources like advertisements, the KMRL is also planning to exploit these sources to supplement their core revenues. The agency will float a tender in the later stages of the project to award the contract for the display of advertisements on the via ducts. The KMRL authorities said that they will take stringent actions against those who are erecting advertisement boards and sticking bills illegally at the via ducts and pillars of the Metro rail project. According to KMRL authorities, the vertical gardens will be set up at the Metro Rail stretch mainly in the areas outside the city.
They are planning to plant shrubs and plants that require less sunlight and water to grow.
Within the city limits, the agency is mainly planning to give the available space on Metro Rail corridor for the display of advertisements. The terms and conditions of the contract will be decided by the KMRL Board after obtaining the report from the transaction adviser who will be appointed for the purpose.
As part of its non-fare box revenue strategy, the KMRL also plans to implement suitable and commercially viable property developments in areas around the metro stations, including the area earmarked for vehicle parking at all 22 metro stations and also at the independent additional plots (beside station plots) of 10 metro station locations, as ‘Metro Plaza’.
The agency had already awarded the letter of agreement to Night Frank India Limited for an amount of `17.19 lakh , which will study the non-fare revenue sources that KMRL envisages to be developed along the proposed metro corridor.
The potential sources of non-fare box revenues that the agency is planning to explore for the Kochi Metro Rail include real estate activities, leasing available commercial space, property development incentives, advertising, tax on vacant land parcel and feeder services.
Kochi Metro Rail Ltd had already initiated the process of selecting consultants on various aspects of Non-fare revenue enhancement including property development, station box commercialization as well as identification of various other sources of non-fare revenue.