By: Bhawana Anand
Last updated : September 20, 2018 11:06 am
Media owners cite high tender cost as an inhibiting factor, apart from the proposed elevated road project that would affect the visibility of the tendered media
The tender was initiated to allot advertising rights at 3,765 locations spread across the city on a variety of formats such as 300 hoardings, bus shelters, FOB, benches and other public utilities. The tender was structured on per design, build, operate, maintain and transfer basis.
Another reason which refrained media owners from local media owners to participate is the upcoming Rs 400 crore elevated road project which is cutting across the city and will supposedly disturb the media formats. This project is expected to take 4 years to complete.
As reported by local dailies, during the last meetings with Cabinet Minister Navjot Singh Sidhu, the interested media owners had raised concern over high tender cost. But in order to compensate and meet the Rs 100 crore per annum revenue target, instead of reducing the cost, the tender duration was increased from 5 years to 9 years.