Indian Railway Stations Development Corporation Ltd. (IRSDC) invited Request forQualification (RFQ) for redevelopment of Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT), Mumbai on PPP on 20th August, 2020, after ‘in principle’ approval of PublicPrivate Partnership Appraisal Committee (PPPAC).
Pre-bid Meeting conducted on 25th September, 2020 was chaired by CEO, Niti Aayog & Chairman & CEO, Railway Board. The Request for Qualification (RFQ) for the redevelopment of Chhatrapati Shivaji MaharajTerminus (Mumbai) Railway Station was opened today in the office of Indian RailwayStations Development Corporation Ltd. (IRSDC), New Delhi.
IRSDC got overwhelming response of Developers & Fund Houses in submitting the RFQ Applications. Atotal of 10 applications have been received.
Following 10 organisations successfully submitted the applications –
i.GMR Enterprises Pvt. Ltd.,
ii.ISQ Asia Infrastructure Investments,
iii.Kalpataru Power Transmission Ltd.,
iv.Anchorage Infrastructure Investments Holdings Ltd.,
v.Adani Railways Transport Ltd.
vi.Brookfield Infrastructure Fund IV
vii.Moribus Holdings Pte. Ltd.
viii.Godrej Properties Ltd.
ix.Keystone Realtors Pvt. Ltd.
x.Oberoi Realty Limited
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, GoaMopa Airport, Jewar Airport and other airports at Jaipur, Ahmedabad, Lucknow, Guwahati,Manglore, Thiruvananthapuram or other railway stations.
The Key salient features of the project are:
1 In principle approval of PPPAC comprising representatives from Ministry of Finance,Ministry of Law, Niti Aayog, Ministry of Railways etc, as per the Guidelines for PPP projects by Govt. of India;
2 Extended O&M period of railway stations: For providing better passenger services and amenities, railway stations shall be on license with Concessionaire for 60 years;
3 Additional revenue stream: Pre-determined user charges (as notified by MoR) from railway station users as in practice in airports etc;
4 Long Term lease-rights for real estate: Upto 99 years for residential or mix useformat & 60 years for non-residential formats.
5 About 2.54 lakh sqm of Built up Area (tentative) is allowed for commercial development.
6 IRSDC will be a single window for approval of master plan and building plans in consultation with local authorities in terms of power conferred under Section 11 ofRailway Act, 1989;
7 The redevelopment cost of the station (mandatory cost) including the cost of financing and contingency etc. is Rs. 1642 crore.
The investment opportunity for redevelopment is on DBFOT (Design, Build, Finance, Operate and Transfer) basis. The Applicants fulfilling the Eligibility Criteria shall be shortlisted for participating in further stage. The entire bidding procedure is a two-stage bidding process consisting of RFQ andRequest for Proposal (RFP).
The selected bidder at the RFP stage shall take up the redevelopment of the CSMT Railway stationWhile the initial planning was done by M/s AREP, French Consultant, the Technical Consultant for planning of the project now is M/s AECOM. The Financial and Transaction Consultant is M/s Knight Frank.CSMT is a historic and UNESCO World Heritage site located in the heart of Mumbai city.
The redevelopment plan encapsulates integration of various modes to make this railway station a multimodal transport hub as per the vision of Hon’ble PM of India. It will includesegregation of arrival and departure, divyang friendly station, better level of services forpassengers, energy efficient building and restoring the heritage site as per its 1930 levels.
The CSMT railway station will function like a city centre rail mall where in addition to apassenger’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 byvisiting the railway station thus avoiding unnecessary travel within the city. The infrastructure at the redeveloped station is envisaged in such a manner that it promotesseamless 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. Effortswould also be made to integrate the last mile connectivity so that passengers can beprovided end-to-end solutions.
Featured Image Credit : Jatin Bhavsar