Enjoy Bliss, reap rich: Kochi Metro lures investors to mega project
To come up in 31.2 acres at Kakkanad; expression of interest to be floated later this month
KOCHI: The Kochi Metro Rail Limited (KMRL) is wooing global giants like Cognizant and ADIA (Abu Dhabi Investment Authority) to invest at its Bliss City project, to be developed in 31.2 acres at Kakkanad. Sources said an expression of interest (EoI) detailing the project will be floated later this month.
In ad- d i - tion to entertainment segment, investment is sought in information technology, artificial intelligence, health, media houses, robotics and finance sectors. “Bliss City is going to be a mixed-use development project. It is going to be a flexi-investment module.
The EoI basically is about giving the details of how much land available, investment modes, how many buildings could come up in a given area and so on. We have prepared a detailed report on the land, investment, finance and designs,” said KMRL MD Loknath Behera.
“We will float the EoI this month itself,” he added. Initially, sources said, the plan was to set up the project with focus on entertainment and health but now, since the investors from IT and finance have also expressed interest, the KMRL is open to invite reputed companies from all sectors.
An IT city with new technologies including AI, augmented reality and transverse is being thought of. Key health brands in the country have also expressed interest, sources said. “We are eyeing investments ranging from Rs 5,000 cr to Rs 10,000 crore.
Since it’s a big amount, we don’t know how the local players would engage. They might come up with a consortium or joint venture. We’re open to that, too,” said a senior KMRL official. Kunnumpuram near Kakkanad would be the metro station close to the Bliss City. “A dedicated space for entertainment will be a big attraction. Bliss City will allow film theatres, malls, clubs and other unwinding places, primarily aiming the techies. Investors too would be interested in it.
But the rest of the space would vary, it may be for IT, health, AI, robotics or even media houses. Anything that would benefit the state and Metro equally would be considered,” said a senior official. Behera said the investors would be finalised only after getting the approval of its board of directors and the state government. The project, a public- private partnership model, is aimed at gaining returns either through land rentals or revenue sharing.
Sources also said the state government is helping the KMRL in finding a suitable in- vestor for the project. It would be of interest if production units too come in. Clearing and preparatory works at the 14 acres of the land are being done. “We have made a presentation and that would detail our plan, but we are also ready to make necessary modifications. A team has been formed by the KMRL to approach the investors and give them an idea about the project and its benefits for the investors,” said a KMRL official.
The draft sketch of the initial 14-acre Bliss City project
Rs 5k cr- Rs 10k cr investment KMRL is eyeing
The project will be a publicprivate partnership model