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Indian Railways receives positive response for railway station development projects

Thursday, 02 Jul 2020
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The Indian Railway Stations Development Corporation (IRSDC), a joint venture (JV) by the Rail Land Development Authority (RLDA) and the state-owned engineering company Ircon, had invited request for qualifications (RfQs) for redevelopment of Gwalior, Nagpur, Amritsar and Sabarmati railway stations in December 2019. 
 
The nodal agency opened the RfQs submitted by various companies. It has received a positive response for the railway stations redevelopment projects. 
 
A total of 32 successful applications from developers and fund houses were received despite the COVID-19 scenario. 
 
Among the major companies which participated are GMR, JKB, Monte Carlo, ISQ Capital, Anchorage Infrastructure (subsidiary of FairFax India), Kalpataru, Kalyan Toll, GR Infrastructure, and Cube Construction. Moreover, of the 32 applications, nine are for the Sabarmati railway station in Ahmedabad. 
 
The collective estimated cost for the revamping of these four stations is expected to be around Rs 1,300 crore, while the total built-up area (BUA) for commercial development is 54 lakh sq ft. 
 
Also, for these projects, there is no need for land use change or any prior environmental clearance since the projects are categorised as railway projects under the Railway Act 1989. 
 
The four projects are the first projects by the Railways to have received an in-principle approval of the Public Private Partnership Appraisal Committee, which has been formed by the Centre for PPP projects. 
 
The four stations are also the first to provide the concessionaires of the redeveloped stations with the option of fixing pre-determined charges for users as well as visitors as one of the major sources of revenue.

 

 
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