Overwhelming Response from Bidders for Redeveloping Gwalior, Nagpur, Amritsar and Sabarmati Stations

Indian Railway Stations Development Corporation Ltd (IRSDC) said yesterday (Friday, 26th June 2020) that it has received 32 successful applications for redeveloping Gwalior, Nagpur, Amritsar and and Sabarmati Railway Stations. IRSDC had 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 including from corporates like JKB, GMR, ISQ Capital, Kalpataru, FairFax/Anchorage, Monte Carlo, GR Infrastructure, Kalyan Toll and Cube Construction,” IRSDC 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 is 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, request for proposal will be called in which bids will be submitted.