GMR Enterprises Adani Railways Transport and Godrej Properties, are among 10 private players who have evinced interest to redevelop Chhatrapati Shivaji Maharaj Terminus, a heritage property in Mumbai.
The redevelopment project is a crucial one as the CSMT is a historic station and the UNESCO World Heritage site located in the heart of Mumbai city.
ISQ Asia Infrastructure Investments, Kalpataru Power Transmission, Anchorage Infrastructure Investments Holdings, Brookfield Infrastructure Fund, Morbius Holdings, Keystone Realtors and Oberoi Realty are among others who have submitted request for qualification (RFQ) for redevelopment of CSMT railway station under the public-private partnership model.
These RFQs were opened on Friday (15 January) in the New Delhi office of the Indian Railway Stations Development Corporation (IRSDC), according to IRSDC statement.
The entire bidding procedure is a two-stage bidding process consisting of RFQ and Request for Proposal (RFP). The final winner would take up the redevelopment of this railway station and commercial development of the surrounding railway land on leasehold basis for 60 years.
The Rs 1,642-crore redevelopment project envisages integration of various modes to make the iconic railway station a multi-modal transport hub. The total real estate built-up area is 25 lakh square feet and the construction period is of four years.
The redevelopment plan will include segregation of arrival and departure, divyang friendly station, better level of services for passengers, energy efficient building and restoring the heritage site as per its 1,930 levels.
For providing better passenger services and amenities, railway stations shall be on license with Concessionaire for 60 years.
The project envisages that the CSMT railway station will function like a city centre rail mall where in addition to a passenger’s transportation needs, his daily needs will also be fulfilled, like- Retail, F&B, Entertainment, Souvenir shopping.
The aim is that most of his daily needs are catered to by visiting the railway station thus avoiding unnecessary travel within the city.
The infrastructure at the redeveloped station aims to promote seamless integration from one mode to another mode. Upon redevelopment, it will provide multiple access points to passengers for easy commute and also a direct linkage between suburban railway, harbour line, long distance, Metro rail and commercial development.
This will help in reducing the congestion while enjoying the enhanced heritage structure. Efforts would also be made to integrate the last mile connectivity so that passengers can be provided end-to-end solutions.
IRSDC had invited RFQ for redevelopment of CSMT on PPP on 20 August 2020, after ‘in principle’ approval of Public Private Partnership Appraisal Committee (PPPAC).
Pre-bid Meeting was conducted on 25 September 2020 which was chaired by Niti Aayog CEO and Railway Board Chairman and CEO.
According IRSDC, this has been the best participation in recent times in terms of numbers of applications, when compared to projects of Delhi Airport, Mumbai Airport, Navi Mumbai Airport, Goa Mopa Airport, Jewar Airport and other airports at Jaipur, Ahmedabad, Lucknow, Guwahati,
Mangalore, Thiruvananthapuram or other railway stations.
Redevelopment of railway stations across India is a priority agenda of the Ministry of Railways, Government of India. This agenda is being driven with full force by the Government with the participation of private players as a part of PPP projects.
As part of this agenda, work on redevelopment of 123 stations is in progress. Out of this, IRSDC is working on 61 stations and RLDA is working on 62 stations. As per current estimates, total investment needed for redevelopment of 123 stations along with real estate development is about Rs 50,000 crore.