KSRTC terminal in Kozhikode | Photo: Mathrubhumi
Kozhikode: Efforts are underway to hand over the twin tower, including the KSRTC terminal, and an area of more than two acres on which it stands at Mavoor road in Kozhikode, to the Kerala Transport Development Finance Corporation (KTDFC).
“A government order in this regard has been issued by the transport ministry,” said Ahmmed Kabeer, KTDFC general manager and additional secretary.
A committee, chaired by the district collector and comprising officials of the KSRTC and KTDFC, has been appointed to decide on the price of the land. Currently, KTDFC is under a debt of Rs 780 crore for lending money to KSRTC.
Earlier, a decision was made to hand over the assets of KSRTC in Kozhikode, Angamaly, Thiruvalla and Thiruvananthapuram to KTDFC in order to pay off the corporation’s debts. The current hand over comes as the first phase of the move.
The Kozhikode bus terminal and the business complex was built on a BOT (build-operate-transfer) basis by the KTDFC earlier. Around Rs 35 crore is required to repair the damages of the building.