Parivartan, the OOH division of Jindal Stainless Ltd, has bagged the advertisement rights of 367 stainless steel bus shelters in Chennai. Jindal Stainless is a recent entrant to the OOH sector. The contract, which is worth over Rs 175 crore, is for a period of eight years and includes the cost of construction of these 367 stainless steel bus shelters and the license fees.
This win is for the seven most premium traffic zones out of the total 10 on offer and is almost 75 per cent of the total inventory of 500 shelters that was on offer. The areas covered under these seven zones cover super premium areas in Chennai such as Marina Beach Road, Airport Road, etc.
Chennai-based OOH company Landmark has bagged the remaining 133 bus shelters.
This tender was one of the most eagerly awaited ones after the removal of all unauthorised and hazardous billboards and displays in Chennai in April 2008 by the Municipal Corporation of Chennai under the directive of the Supreme Court issued to the Madras High Court.
Piyush Tiwari, Business Partner, Parivartan City Infrastructure Ltd, said, “This project has been awarded to Jindal Stainless Ltd over several leading players in this domain that had participated in the bidding process. Some of these players included Times OOH, JCDecaux, Laqshya Media, and Big Street, among others. The rights for these displays have been awarded for a period of eight years.”
Chennai being one of the key metros in the country with a thriving OOH market estimated at over Rs 100 crore as per last year’s data, these new bus shelters along with its displays are likely to be the mainstay and the backbone of the OOH business in the city. This is especially true in the light of the ban on unauthorised and hazardous displays, and therefore, drastic reduction in quality OOH media options for advertisers in Chennai.