BEST hoping to monetise land at all 27 bus depots

Public body looking to earn ₹10,000 crore from this proposal, holds talks with Int'l Finance Corporation

- Shashank Rao

MUMBAI: With accumulated losses of ₹9,500 crore hanging over its head, the Brihanmumbai Electricity Supply and Transport (BEST) undertaking plans to generate non-fare revenue by monetising over 300 acres of land at all its 27 bus depots across Mumbai.

The public body has held meetings with the International Finance Corporation (IFC), an arm of the World Bank, to understand the potential of its monetisable assets, according to officials. BEST general manager SVR Srinivas confirmed the same, saying a meeting was held in mid-June with the IFC.

BEST is open to both residential and commercial complexes coming up at its depots, provided it gets space for multi-tier (ground plus one) parking for its bus fleet, officials said.

Its existing 27 depots can accommodate over 3,941 buses, while satellite parking at bus stations is meant for another 500 plus buses.