New-Delhi Railway Station To Get A World-Class Make Over Worth USD 680 Million
New Delhi Railway Station is all set to get a world-class makeover, as Railway Land Development Authority (RLDA) is organising Virtual road shows from 14th January to 19th January 2021 to attract investors.
RLDA is will be executing the make over project, and the protentional investors, which include nations such as Singapore, Spain, Australia, Dubai, and several other European financial institutions.
“The redevelopment of New Delhi Railway Station is among our flagship projects that will boost tourism prospects and usher a socio-economic transformation of the region. The project is attracting interest from various stakeholders, and we intend to sustain the momentum through virtual roadshows. The initiative will enlighten them about the various aspects of the project,” said Ved Parkash Dudeja, Vice Chairman, RLDA.
Indian infrastructure developers Adani, Adani, GMR, JKB, French company SNCF, Anchorage and Arabian construction company had taken part in pre-bidding, which had taken part in September 2020.
This make over will be done at a cost of USD 680 million, and is set to be complete in 4 years from the date commencement.
Along with railway station, project re-development includes a new terminal building, railway offices and railway quarters, ancillary railway works and real estate places adjoining railway station, commercial and residential spaces as well.
This redevelopment will also be part of multi-modal transport integration, making New Delhi railway station to be first in line towards Transit Oriented Development (TOD) in NCR region, while similar developments are also occurring in Noida and other NCR regions.
Redevelopment of Station will be done on Design-Build finance operate and Transfer (DBFOT) model, where private developer will get a lease of station for 60 years, where in developer will get multiple revenue generating streams such as real estate, rents etc.
Station is proposed to have interesting and modern architecture with dome shaped terminal buildings, arrival and departure on concourse floors, Multi-modal transport hubs on each side, while two of 40 floor high rise towers and a pedestrian boulevard accompanied with shopping centres in aisles.
Masterplan for re-development plan is for 120 hectares, of which 88 hectares will be included in phase-1.
Project is currently at the stage of Request for Qualification (RQF) stage with due date of 2nd February 2021.
RLDA is currently developing or re-developing 62 railway stations across country in a phased manner, prioritizing stations such as New Delhi, Tirupati, Dehradun, Nellore, Panipat, Puducherry, Ernakulum, all of them will done on PPP model.