Lucknow Metro releases revised tender for exclusive ad rights

Lucknow Metro Rail Corporation has released a revised tender for advertising rights for inside the Metro stations and on civil structures in the stretch from Transport Nagar to Charbagh station. The tender is for licensing out exclusive ad rights inside eight Metro stations and on the outside civil structures of the elevated section of the stations. The authority had invited the bid for the same property earlier but cancelled the tender last week after the opening of financial bids.

Industry sources suggest that Lucknow Metro Rail Corporation had miscalculated the estimated cost of the property, which was figured during the first round of the bid i.e. financial bid. Hence, the authority had withdrawn the tender. Confirming this, a Lucknow Metro Rail Corporation official said, “There was an error in the estimation due to which we withdrew the tender for correction. It was an internal matter, not anything related to the bidders”.

The revised tender has been kept similar to the earlier one in terms of bid security and other legalities. The eligibility criterion has been relaxed this time whereby firms with minimum average annual gross turnover of Rs 8.30 crore from the advertisement sector in the last three can participate in the tender. All bid documents need to be submitted latest by June 19, 2017. For more details check http://lmrcl.com/Doc/39NIT_for%20_Upload_LKAR_01_(R1).pdf.