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The rights have been awarded for a period of 15 years, during which a quarterly license fee ranging from Rs 5 lakh to Rs 30 lakh will be paid by each licensee
Following a tender bid called by Delhi Tourism and Transportation Development Corporation (DTTDC), on behalf of Public Works Department (PWD) and Government of National Capital Territory of Delhi (GNCTD), for development of street furniture for Commonwealth Games, the rights for this have been awarded to JCDecaux, Graphisads and Laqshya Media. While Graphisads has bagged the rights for two clusters – Delhi University and RK Khanna Tennis Complex, JCDecaux and Laqshya Media have got the rights for IG Stadium and Siri Fort Sports Complex, respectively.
Confirming the news to afaqs!, Indrajit Sen, chief executive officer, Laqshya Media says, "Implementation will be a challenge; but I am sure that with our technical expertise, we will be able to accomplish the project soon."
Mukesh Gupta, managing director, Graphisads feels that the project would help the media owner establish itself as a market leader. The construction work on this project will begin within a month.