Underpass set to rake in moolah

Underpass set to rake in moolah
Bangalore, DHNS:
The Cauvery theatre junction underpass may have given a series of hiccups to Bruhat Bangalore Mahanagara Palike (BBMP) during its construction, but after completion, it promises to become a money spinner...


Even as the underpass is yet to be thrown open for traffic, half a dozen big companies, including Reliance, are vying with one another for advertisement rights. Reliance has already given an underwriting to take the ad rights at Rs 1.77 crore for five years, according to BBMP official sources. This, in other words, means BBMP has recovered the money it has spent on the project. Though BBMP is yet to work out the total money spent on the project, official sources said it will be around Rs 1.75 crore. The company that gets the rights will be allowed to put up ads on the railings of the underpass.

BBMP Commissioner S Subramanya confirmed the underwriting but refused details. “We have got an underwriting from a company for the ad rights. But we will call the tender and the company that quotes the highest will get the rights.”

According to sources in BBMP ad department, over a dozen companies are likely to participate in the tendering, and it may fetch a minimum of Rs 2.5 crore.

“We are expecting to make a huge profit out of the ad rights. The underpass being a part of the new airport corridor route, competition is intense among companies to secure the ad rights,” the official said.

BBMP has recently given the ad rights on the adjoining Mekhri circle grade separator at Rs 1.8 crore for three years, officials said.

Meanwhile, the traffic police on Friday evening allowed vehicle movement on the underpass box on a trial basis for five minutes. Traffic moving from BDA circle towards Mekhri circle via Cauvery theatre junction, were diverted to pass over the underpass.

Commissioner Subramanya said the trial has proved that the underpass is ready to take the traffic load and it will be thrown open to traffic in a day or two.