Mumbai Metro Rail Corporation awards branding rights for 5 Metro 3 stns
MUMBAI: The Mumbai Metro Rail Corporation (MMRC) on Wednesday awarded the naming rights for five stations of the Metro 3 corridor (Colaba-Bandra-Seepz) for a period of five years, starting from the commissioning of the line. The total value of the station-naming rights is Rs 216 crore cumulatively over five years with a 5% annual escalation — generating non-fare revenue of Rs 40 crore annually.
Kotak Mahindra Bank was awarded the naming rights of Bandra-Kurla Complex and CSMT Metro stations, ICICI Lombard got the naming rights of Siddhivinayak Metro station and Life Insurance Corporation (LIC) of Churchgate and Hutatma Chowk Metro stations. The winning brands will get branding space inside the station, mentioned in train announcements and station maps, in addition to pre-fixing of their brand names to the station names.
“This is the first step towards generating non-fare box revenue that would ease funding and keep the fares reasonable for commuters,” said MMRC managing director Ashwini Bhide.
