Jindal Stainless Ltd has shelved the construction of the 400 Bus-Q-shelters in the second phase due to lack of revenues faced by the outdoor advertising industry This has put the company at cross purpose with the Delhi Transport Corporation (DTC). Jindal Stainless has formally written to the Delhi statutory authority to revise the advertising policy framed by the Municipal Corporation of Delhi as the current outdoor policy favours the billboard owners.
Confirming the news to exchange4media, a senior official from Jindal Steel said, “We have written a formal letter to the statutory authorities in Delhi, asking them to review the present outdoor advertising charter so that the Municipal Corporation of Delhi restricts the local media owners from putting up billboards anywhere across the National Capital. Unless they give us an ear to our call we shall not commence the work as it hurts the interests of the steel company, which has an agreement with DTC, wherein revenues in excess of Rs 4.5 crore raised through advertisements on key bus routes from Dhaula Kuan hub to ISBT will be credited into the account of DTC.”
As reported earlier by exchange4media, Jindal Stainless Ltd was awarded the 10-year contract for the second phase tender of the Bus-Q-Shelters by the Delhi Transport Corporation. The second BOT project included building 400 Bus-Q-Shelters in all parts of Delhi, except the NDMC area. These bus shelters were to be constructed and designed as per the directions given by the DTC. The project assured DTC revenues upwards of Rs 4.5 crore per month from outdoor advertising. As per the tender rule, these bus shelters were to be constructed within a span of 48 weeks and if the company fails the deadline the statutory authorities have the right to impose the needful fine.
Jindal Stainless bags 10-year tender rights for 400 DTC Bus-Q-Shelters in Delhi