MMRC set to earn over Rs 200 crore in five yrs from station naming rights for Metro Line 3
The Mumbai Metro Rail Corporation (MMRC) Wednesday awarded the naming rights of five stations of the Metro-3 corridor to a few brands for a period of five years starting from the commissioning of the line.
The corporation in a statement said, “The total value of station naming rights is Rs 216 crore cumulatively over 5 years with 5% annual escalation – generating non-fare revenue to the tune of Rs 40 crore annually.”
“MMRC is happy to associate with reputed brands like Kotak Mahindra Bank, LIC and ICICI Lombard for station naming rights for Line 3. This is the first step towards generating non-fare box revenue that would ease funding and keep the fares reasonable for the commuters,” said MMRC managing director Ashwini Bhide.
