IRSDC floats tender for redevelopment of Chhatrapati Shivaji Maharaj Terminus

The Indian Railway Stations Development Corporation (IRSDC) has invited request for qualification (RFQ) for redevelopment of Chhatrapati Shivaji Maharaj Terminus in Mumbai on design, build, finance, operate and transfer (DBFOT) basis.

Following the in principle approval of Public Private Partnership Appraisal Committee (PPPAC) for the redevelopment of Chhatrapati Shivaji Maharaj Terminus railway station in Mumbai, Maharashtra on PPP mode, the RFQ for redevelopment of the station on PPP has been invited by IRSDC.

The entire bidding procedure is a two-stage bidding process consisting of RFQ and request for proposal (RFP). The selected bidder at the RFP stage shall take up the redevelopment of the station and commercial development of the surrounding railway land on leasehold basis up to 60 years for commercial development and up to 99 years for residential development on selected plots, along with operation and maintenance of the station for 60 years on concession basis.

The user charge will also be another continuous source of revenue to the concessioner which will be available just after the commercial operation date (COD) of the station.

The planning for the project has been done by AREP from France and discussions have been held with various stakeholders on periodic basis.

The redevelopment cost of the station (mandatory cost) including the cost of financing and contingency etc is Rs 1,642 crore.

The eligibility criteria is in terms of financial capacity at the RFQ stage and the net worth/ ACI should be Rs 821 crore at the close of preceding FY.

The salient features of the project includes, construction and O&M experience capacity shall have to be met after the award of project but before the appointed date; for providing better passenger services and amenities, railway stations shall be on license with concessionaire for 60 years; pre-determined user charges (as notified by MoR) from railway station users as in practice in airports etc.

It also includes long term lease-rights for real estate up to 99 years for residential or mix use format and 60 years for non-residential formats; up to 2.54 lakh sq mtr of built up area (tentative) is allowed for commercial development. The exact built up area allowed shall be known at the RFP stage.

Also, no prior environmental clearance is required from Ministry of Environment, Forests and Climate Change (MoEF&CC) and no change in land use is required.

IRSDC will be a single window for approval of master plan and building plans in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989.

Moreover, Alternate Investment Fund (AIF) or Foreign Investment Fund (FIF) are also eligible to participate in the project.

All applicants who meet the qualification criteria shall be eligible to submit price bid at RFP stage, i.e., there is no upper cap for shortlisting of applicants for RFP stage.

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