The state road transport corporation (KSRTC) has decided not to go for big bus terminal complexes owing to delay in completing the BOT-based projects and failure in attracting people to rent out spaces in these highrises. Instead, it will focus on mini multi-terminal complexes that would cost a maximum of Rs 8 crore .
Except the one in Angamaly, all the other big terminal complexes under construction in Thiruvananthapuram, Kozhikode and Thiruvalla are way behind the deadline.
Due to this delay, KSRTC is now bearing huge financial as well as operational losses. Also, there are not many takers for the shop /office spaces in these highrise buildings. Only the ground and first floors have been leased out in Angamaly. This means, it will take many years for the KSRTC to earn penny from these projects.
“This situation has prompted us not to propose anymore BOT-based big projects,” said a senior official of KSRTC.
The big projects are carried out on a BOT basis between KSRTC and Kerala Transport Development Finance Corporation (KTDFC).
The time limit to complete all these projects was two years. The work of terminal complex at Kozhikode started on March 27, 2009 while the work of Thiruvananthapuram bus station started on September 2, 2010.
Thiruvalla terminal complex work started on December 1, 2010 and the one in Angamali around the same time. But so far, only the Angamaly complex has been commissioned. “However, there are still some works to be completed there, including sitting area for women,” the official said.
KSRTC chief engineer R Indu said that the Corporation currently plans to use its own resources to carry out mini complex works at Nedumangad, Neyyattinkara and Thodupuzha.
“These are the projects that would cost Rs 8 crore maximum and the amount is bearable for the Corporation. As these properties are in prime spots, we hope that the rental spaces could be leased out soon. The proposals for mini complexes at Malappuram, Harippad, Payyannur, Pala and Kottayam have already got the approval of higher authorities,” she said.
Source: Times Of India
