Mumbai based out of home (OOH) media company, Hype Integracomm, has acquired the rights to construct and lease out a foot over bridge (FOB) on the Thane-Belapur Road. The Environment Minister and Minister of State for Excise, Ganesh Naik, flagged off the project recently.
Hype Integracomm has entered into a contract with the Thane Municipal Corporation to construct the FOB on a build-operate-transfer (BOT) basis. The FOB will be constructed in Kalwa, near Chhatrapati Shivaji Hospital, and is a first of its kind contract for 30 years.
The municipal corporation will not invest money in this project but will stand to gain a high class infrastructural asset. Jignesh Sharma, executive director, Hype Integracomm, tells afaqs!, "Hype won the contract on the basis of design, utility and time frame to complete the project. The company will invest approximately Rs 10 million for this project."
As of now, Hype plans to put up only lit display signage of international standards on the FOB, but may also add other types of displays later. Either one big display or two-three smaller displays may be put up on the space provided. The total space available for advertising is 1500 sq. ft/150 sq. meters on each side of the bridge.
The road is also dotted with many educational institutes and is equally preferred for residential complexes as well. It is a bypass road between Thane and Pune. The FOB will serve a very good purpose here. The target group reached here belong to SEC A+, A, B+ and B, comprising of senior working professionals and also a huge student population in the engineering and medical colleges around the area.
For the record, the year and a half old Hype Integracomm has media assets in the form of bus shelters, bus bays, green kiosks (tree guards) and public conveniences in Mumbai, Bengaluru, Hyderabad and Pune. Hype owns all the media assets marketed by it and follows the BOT model in conjunction with the local governing bodies.