A pre-bid meeting was conducted between IRSDC and interested parties over the redevelopment project for Mumbai’s iconic Chhatrapati Shivaji Maharaj Terminus on 25th September.
Amitabh Kant, CEO of NITI Aayog and V K Yadav, CEO, Railway Board chaired the meeting. Also participating were Member, Infrastructure from the Railway Board, General Manager, Central Railway and General Manager, Northern Railway.
CSMT Redevelopment Project Pre-Bid Meeting Participation
43 participants attended the meeting. Among them were representatives from Tata Projects Ltd., Eldeco, GMR Group, Adani Group, JKB Infrastructure Pvt. Ltd, SNCF Hubs & Connexions, I Squared Capital, Kalpataru Power Transmission Ltd., Ace Urban developers, GR Infrastructure, Essel Group, Larsen & Toubro; architects namely BDP Singapore, Hafeez Contractor and AECOM.
Fund houses namely Anchorage Infrastructure Investment Holdings Ltd., Brookfield and consultancy firms namely JLL, Boston Consultancy Group, KPMG, PwC India, EY and embassies namely British High Commission also attended.
Invest India, a forum set up by DPIIT and is the National Investment Promotion and Facilitation Agency that helps investors looking for investment opportunities and options in India, was also present.
Only Financial Criteria To be Met for RFQ
A key measure highlighted during the meeting was that applicants need only fulfil financial criteria at the RFQ stage. Technical eligibility requirement has been dispensed with.
Request for Qualification (RFQ) for the redevelopment of CSMT was invited by IRSDC vide NIT published on 20th August 2020.
CSMT Redevelopment Project: A multimodal hub, shopping and entertainment destination
The Chhatrapati Shivaji Maharaj Terminus is one of the landmarks of Mumbai city. It has also been bestowed with the World Heritage status by UNESCO.
The redevelopment plan envisages integration of various transport modes to make the station a multimodal hub.
Seamless integration from one mode to another will be designed as part of the flow. Multiple access points will be available for simpler, faster commutes for passengers. Direct linkages between suburban railway, harbour line, long-distance, Metro rail and commercial development will be ensured.
IRSDC, the Indian Railways subsidiary that will steer the project to fruition, plans to restore the heritage site to its 1930 construction levels around the historic building.
The redeveloped station will be designed to segregate the arrival and departure movements of passengers. The plan will ensure accessibility for the disabled, improved facilities and services for passengers. The new buildings that will be part of the project will also be designed to be energy-efficient.
The station area will function like a city centre rail mall. Retail, F&B, entertainment, souvenir shopping facilities will also be available. This will help passengers fulfil their daily needs at the railway station and help them avoid travel in the city.
CSMT Redevelopment Project Cost, Area and Timelines
Estimated cost of the project as of today is Rs. 1,642 crores. Cost of the real estate is Rs. 1433 crores. Total real estate BUA is estimated at around 25 lakh sq. ft. at CSMT, Wadi Bunder and Byculla.
The construction period is of 4 years. Selected bidder at the RFP stage shall take up the redevelopment of the Railway station and commercial development of the surrounding railway land on leasehold basis for 60 years for commercial development and upto 99 years for residential development on selected plots, along with operation and maintenance of the station for 60 years on a concession basis.