KMRL invites expression of interest for 31-acre Bliss City project

Kochi Metro Rail Limited (KMRL) has invited Expression of Interest (EoI) for the proposed Bliss City project on 31 acres in Kakkanad to generate alternative revenue for the operation and maintenance of Kochi Metro.

The Metro agency had previously envisioned a wellness and entertainment destination of around ₹3,000 crore on the property spread over six plots of land.

The EoI which was launched a week ago states that a total area of ​​40 lakh square feet will be made available for mixed use development to private or public entities that have experience in property development commercial, through calls for tenders. The entity will be pre-selected in February 2023, we learn.

According to official sources, the planned entertainment, healthcare, IT, artificial intelligence and media house projects are based on the concept of an integrated ecotone, where everything will be available under one roof.

It was previously reported that four industrial houses were among the companies that expressed interest in the Bliss City project. The government had ceded 17 acres to the metro agency, while the rest was to be ceded as its preparatory work progressed.

The metro agency had designed it as a “city within a city”, a zero carbon footprint. The company’s revenue and the number of daily commuters touching the 2 lakh mark from the current average of around 65,000 were key to ensuring that the metro became a self-sufficient mass rapid transport mode. The subsidized loan (made available to the French development aid agency AFD as capital for the construction of the metro) is expected to be repaid in 25 years, while the daily operating and maintenance expenses of the rapid transit system mass will increase in the years to come, with liability in the event of a fault period of many components having expired or being about to expire.

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