Adani, Oberoi, Eight Others Compete To Bid For CSMT Station Redevelopment
Chhatrapati Shivaji Maharaj Terminus Station Redevelopment: The Indian Railway Stations Development Corporation Limited (IRSDC) received 10 requests for qualification (RFQ) applications for the redevelopment project of the Chhatrapati Shivaji Maharaj Station Terminus (CSMT) station. The applicants involve major private players such as Adani, GMR, Oberoi Realty, etc. The requests for qualification or bids for the redevelopment project of the station was opened on January 15, 2021. (Also Read: New Delhi Station Redevelopment To Attract Foreign Investors: All You Need To Know )
The Indian Railway Stations Development Corporation had invited the request for qualification for the redevelopment of Chhatrapati Shivaji Maharaj terminus station of Mumbai on the basis of the public-private partnership (PPP) mode on August 20, 2020, after an in-principle approval was granted by the Public-Private Partnership Appraisal Committee (PPPAC). The pre-bid meeting for the project was conducted on September 25, 2020. The IRSDC received responses from developers and fund houses in submitting the RFQ applications. According to IRSDC, the 10 organisations which submitted the application for the RFQ stage of the CSMT station redevelopment project are as follows:
- GMR Enterprises Private Limited
- ISQ Asia Infrastructure Investments,
- Kalpataru Power Transmission Limited
- Anchorage Infrastructure Investments Holdings Limited
- Adani Railways Transport Limited
- Brookfield Infrastructure Fund IV
- Moribus Holdings Pte. Limited
- Godrej Properties Limited
- Keystone Realtors Private Limited
- Oberoi Realty Limited
The Indian Railway Stations Development Corporation Limited is a special purpose vehicle under the government and is responsible for undertaking the redevelopment works of various railway stations across the country. The total redevelopment cost of the station (mandatory cost) including the cost of financing and contingency etc. is Rs. 1642 crore, according to IRSDC. The investment opportunity for redevelopment is on basis of the design-build finance operate transfer (DBFOT) model.
The applicants fulfilling the eligibility criteria will be shortlisted for participating in the next stage. The entire bidding procedure is a two-stage bidding process consisting of the RFQ and the Request for Proposal (RFP) stage. The selected bidder at the RFP stage will take up the redevelopment project of the Chhatrapati Shivaji Maharaj Station Terminus station.