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IRSDC receives 10 RFQ applications for redevelopment of CSMT railway station

Monday, 18 Jan 2021
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The Indian Railway Stations Development Corporation (IRSDC) has received 10 requests for qualification (RfQ) applications for redevelopment of Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT) in Mumbai, Maharashtra. 
 
The companies that submitted the applications are GMR Enterprises, ISQ Asia Infrastructure Investments, Kalpataru Power Transmission, Anchorage Infrastructure Investments, Adani Railways Transport, Brookfield Infrastructure Fund IV, Virtuous Retail South Asia, Godrej Properties, Keystone Realtors and Oberoi Realty. 
 
IRSDC had invited RfQ for redevelopment of CSMT station on public-private partnership (PPP) mode on 20 August 2020, after in-principle approval of the Public Private Partnership Appraisal Committee (PPPAC). 
 
A pre-bid meeting was conducted on 25 September 2020. The RfQ for the redevelopment of the station was opened on 15 January 2021.  
 
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, Goa Mopa Airport, Jewar Airport and other airports at Jaipur, Ahmedabad, Lucknow, Guwahati, Mangaluru, Thiruvananthapuram or other railway stations. 
 
The redevelopment cost of the station (mandatory cost) including the cost of financing and contingency, etc is Rs 1,642 crore. The investment opportunity for redevelopment is on DBFOT (Design, Build, Finance, Operate and Transfer) basis.
 
About 2.54 lakh sq mtr of built-up area (tentative) is allowed for commercial development. For providing better passenger services and amenities, railway stations will be on license with concessionaire for 60 years. 
 
Long term lease-rights will be offered for real estate of up to 99 year for residential or mix use format and 60 years for non-residential formats. 
 
While the initial planning was done by AREP, a French consultant, the technical consultant for planning of the project now is AECOM. The financial and transaction consultant is Knight Frank.
 
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