India’s first DBOT (design, build, operate and transfer) model outdoor stadium is coming up at Karyavattom in Thiruvananthapuram. It is being constructed to facilitate the 35th National Games to be held in Kerala.
The new greenfield stadium is coming up on 34 acres of land on Kerala University’s Kariavattom campus. Mumbai-based IL&FS Transportation Networks Limited won the bid for constructing the stadium at a cost of Rs 141 crore. The construction will begin in next December. The developer will design the stadium, build, operate and transfer it to the state government after completing the lease period of 15 years.
“This will be the first DBOT-model stadium in the country,” said an official in the coordinating committee. “The new method of operating the stadium will help avoid the possible hue and cry over the lack of maintenance after the Games. The operator will have to ensure the stadium is maintained well even when it is used for non-sporting events. The developer should also give back 10% of the gross revenue to the state government collected from Games and other non-sporting events conducted in the stadium. It should also give back 30% of sponsorship (inside stadium) revenue to the government annually,” he said.
The delay in construction and over expenditure could be curbed by resorting to the DBOT model, he added.
The operator would construct the stadium without financial aid from the government in the initial years. The authorities will release money in installments to the developer from third year onwards. A total of Rs 400 crore will be released by the end of the leasing period.
“The new stadium, which will have a seating capacity of 50,000, will come up after 24 months. The playing arena in the stadium will be constructed in line with FIFA regulations and ICC norms. It will have facilities to accommodate indoor sport facilities like basketball, volleyball, table tennis and handball. Olympic-size swimming pool with aquatic centre too will be constructed,” the official said.
News Sourced from Times of India