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Adani Railways, Oberoi Realty, Others Bid for Mumbai's CST Redevelopment
Companies such as Adani Railways, GMR Enterprises and Oberoi Realty are among nine bidders for the redevelopment of Mumbai's Chhatrapati Shivaji Maharaj Terminus, the Indian Railway Stations Development Corporation (IRSDC) said on 1st June.
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Realty Plus
Published - Friday, 04 Jun, 2021
BY
Realty Plus
Published - Friday, 04 Jun, 2021
Companies such as Adani Railways, GMR Enterprises and Oberoi Realty are among nine bidders for the redevelopment of Mumbai's Chhatrapati Shivaji Maharaj Terminus, the Indian Railway Stations Development Corporation (IRSDC) said on 1st June.
The redevelopment of CSMT station is part of the Railways' plans to transform stations into 'Railopolis' - a mini smart city with mixed-use development where one can live, work, play, and ride, thus attracting huge investment and business opportunities.
These redeveloped stations will provide state-of-the-art amenities to passengers and enhance their travel experience. The other bidders for the iconic station are Godrej Properties Limited, Anchorage Infrastructure Investments Holdings Limited, ISQ Asia Infrastructure Investments Pte Ltd., Kalpataru Power Transmission Ltd., Moribus Holdings Pvt Ltd. and BIF IV Infrastructure Holding DIFC Pvt. Ltd.
"Nine firms have qualified the RFQ (Request for Quotation) stage for the redevelopment of CSMT station. As the next step, IRSDC will float a Request for Proposal (RFP) soon to the qualified bidders. CSMT railway station redevelopment is one of our most ambitious projects and we at IRSDC are committed to transform the CSMT railway station into a state-of-the-art transport hub," said SK Lohia, Managing Director and CEO, IRSDC.
The IRSDC statement also said that the redevelopment cost of the station (mandatory cost) including the cost of financing and contingency is Rs 1,642 crore. The investment opportunity for redevelopment is on DBFOT (Design, Build, Finance, Operate and Transfer) basis, it said.
As part of plans to redevelop stations, work is currently underway at 123 railway stations. Out of this, IRSDC is working on 63, and RLDA is working on 60 stations. As per current estimates, the total investment needed for the redevelopment of 123 stations along with real estate development is about Rs 50,000 crore.
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