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The New Delhi railway station development project has received qualifying bids from nine companies —Arabian Construction Company, Adani Railways Transport, BIF IV India Infrastructure Holding (DIFC), ISQ Asia Infrastructure Investments, Anchorage Infrastructure Investments Holdings Limited, Kalpataru Power Transmission Ltd, GMR Highways Limited, Omaxe Limited and Elpis Ventures, according to a source. The bids were received late night on Tuesday.
In the next stage, the Rail Land Development Authority (RLDA) will float the Request for Proposal (RFP) for selected participants who get qualified in the technical process.
“The concession period for railway station and commercial lease is 60 years. If the bidders want to add residential component for feasibility, the residential component will be added, which will be for 99 years,” a railway official told BusinessLine .
The capital expenditure for the project has a mandatory cost ₹5,000 crore for station development — where the developer has to build facilities for station users; and another ₹1,500 crore for developing the station estate, said the official.
Also read: Why it is important for Railways to be competitive
To take the project forward, the notification regarding user development charges is awaited from the Railway Ministry.
New Delhi Railway Station Redevelopment is the first to be undertaken on the Transit-Oriented Development (TOD) concept in Delhi-NCR. It will incur the capital expenditure at around $680 million and will be developed on a Design Build Finance Operate Transfer model. The project offers multiple revenue streams to the developer, including revenue from real estate rights. The concession period is for 60 years.
The station has a master plan area of 120 hectares, out of which 88 hectares is being planned in Phase 1 (of the Project). RLDA is the approving authority for the Master Plan. To expedite the approvals and clearances, an apex committee under the chairmanship of Lieutenant Governor of Delhi has also been constituted.
“The redevelopment of the New Delhi Railway Station … will stimulate economic development of NCR. The project attracted interest from various national and international stakeholders. The project will be instrumental in augmenting the local economy, generating employment opportunities and boosting the tourism potential of Delhi-NCR, ensuring inclusive development for aspirational India,” according to Ved Parkash Dudeja, Vice-Chairman, RLDA.
Located in the heart of Delhi, it will be redeveloped into a world-class station in line with global standards with dome-shaped terminal buildings with two-arrival and two-departure at the concourse level and two Multi-Modal Transport Hubs, 40-floor high-rise twin towers (with hotel / offices and retail units) and pedestrian boulevard.
Pedestrian movement, cycle tracks, green tracks and non-motorised vehicle have been integrated into the proposed development plan, per RLDA.
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