Kochi Metro Rail Ltd (KMRL) has floated an expression of interest (EoI) for the Bliss city project in Kakkanad, a long-awaited infrastructural development project in Kochi.
Bliss city is envisaged to be a wellness and healthy entertainment complex on which KMRL is planning to raise more funds for the operation and upkeep of the metro.
The project will be built on 31.43 acres in Kunnumpuram, Kakkanad, and comprises an IT park, a hospital, and an entertainment centre, among others.
Besides the entertainment industry, investment is also sought in finance, journalism, health, robotics, information technology, and artificial intelligence.
Bliss City will be a mixed-use development project. It’ll be a flexible investment module.
The EoI mainly entails providing information on the amount of land that is accessible, investment options, the potential number of structures that could rise in a specific area, and so forth.
KMRL MD Loknath Behera stated, “we have created a comprehensive study on the land, investment, finances, and designs.”
For the mixed-use development project, the KMRL is presently looking for qualified private sector investors or developers on a PPP basis.
According to The Economic Times, the chosen private sector investor will fund the venture’s development on a DBFOT basis and transfer ownership to KMRL after 30 years.
Bliss City is expected to attract investments of between Rs 8,000 and Rs 9,000 crore from leading companies.
KMRL is approaching Cognizant and ADIA (Abu Dhabi Investment Authority) about investing in its Bliss City project.
KMRL will go on to the following phase of the proposal solicitation based on the investors’ responses to the EoI.
According to Loknath Behera, the projects in Bliss City will not be finalized until proposals from many well-known companies worldwide are considered.