NE BUSINESS BUREAU
NEW DELHI, JUNE 27
Six months after inviting requests for qualification, the Indian Railway Stations Development Corporation Ltd (IRSDC) said on Friday that it has received 32 successful applications for redeveloping Gwalior, Nagpur, Amritsar, and Sabarmati railway stations and transforming them into iconic city centres.
IRSDC, the nodal agency for redevelopment of railway stations, invited the requests for qualification (RFQs) last December.
“IRSDC is happy to share that overwhelming response has been received from developers and fund houses despite the current COVID-19 scenario. In total, IRSDC has received 32 successful applications.
“JKB, GMR, ISQ Capital, Kalpataru, FairFax/Anchorage, Monte Carlo, GR Infrastructure, Kalyan Toll, Cube Construction are some of the names from whom applications have been received,” the Railways said in a statement.
Out of the 32 applications, nine have been received for Sabarmati station in Ahmedabad.
Apart from reputed developers, the applicants include two ‘funds’, the IRSDC said.
The total indicative cost for the redevelopment of the four stations is about Rs 1,300 crore. The total built-up area (BUA) allowed for commercial development is 54 lakh square feet. No land-use change and prior environmental clearance are required as these are railway projects under the Railway Act of 1989.
“The four projects hold the distinction of being the first railway projects to have in-principle approval of Public-Private Partnership Appraisal Committee (PPPAC), formed by the government for PPP projects.
“These stations are also the first ones to have the provision of pre-determined user charges on passengers and visitors as one of the main revenue streams for the concessionaire of the redeveloped stations,” the railways said.
After shortlisting the applicants, a request for proposal will be called in which bids will be submitted.
