Hyderabad will soon have three modern foot-over bridges with elevators and escalators. The first-of-its-kind in the state, these would come up at Masab Tank, Suchitra Centre on the Medchal Road and at ECIL Bus stop here, at a cost of Rs 6.81 crore.
The project, awarded by the Greater Hyderabad Municipal Corporation, would be executed by a joint venture company – Totem Swetha Walkways Private Limited.
Speaking to Business Standard, Totem Infrastructure director and chief operating officer Abhijit Roy said the project would be executed in a public-private partnership model on a build, operate and transfer basis.
The concession period will be 20 years including the construction period of six months. The modern walkways will have advertisement space, which will be leased out during the concession period. The JV company offered the highest annual premium with a 5 per cent increase every year during the concession period.
The works on the FOBs will begin on October 1 and will be completed in six months. “This is our first BOT project and the first in Hyderabad,” he said. Though the major source of revenue would be advertising, the company is looking at the possibility of having some store space to take advantage of the possible high footfalls in these areas.
The Hyderabad-based company till now was engaged in sub-contracts across the country and is now looking at BOTs as its main revenue model. It recently bagged a Rs 500-crore road project in Maharashtra. The company's order book stands at Rs 1,200 crore, Roy said.