Visakhapatnam: State government owned APSRTC’s plan to undo its losses by leasing its vacant or excess land through Build Operate and Transfer (BOT) basis couldn’t materialise due to bifurcation of Andhra Pradesh.
RTC had planned to give around six acres of land in Maddilapalem bus depot and around 35 per cent of land in Kirlampudi Layout for BOT projects that would have helped it earn Rs 300 crore. As per the agreement, parties tasked with undertaking the project were required to build new commercial or office complex, run it for some years before handing it over to RTC management.
But the state bifurcation process and Samai-kyandhra movements ruffled all plans and projects, and disappointed authorities started exploring other avenues for income generation.
They recently decided to rent out a building within Dwaraka bus station complex premises to the ESI department for establishing a hospital there. As per agreement, RTC has given around 85,000 square feet space across four floors to ESI hospital and it hopes to get around '19.5 lakh per month as rent.
This will enable cash-strapped RTC to earn Rs 2.5 crore per year.
ESI hospital services right near the bus stand, within a few months, will also make it convenient for patients.
Deputy executive engineer N.S.R. Naidu said, “We are searching new sources to add income to the corporation. Throu-gh such plans we can recover some losses and the company will sustain for some more years.”
