IRSDC receives 10 RFQ Applications for redevelopment of CSMT Railway Station, Mumbai

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New Delhi / Mumbai: Ten major infrastructure organisations that include – GMR Enterprises, Adani Railway Transport, Godrej properties and Oberoi Realty among others have submitted their bid applications for the Rs. 1642 crore redevelopment of the World Heritage site, the iconic Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT), Mumbai on Public-Private Partnership (PPP) basis.

The Indian Railway Stations Development Corporation Ltd. (IRSDC) had invited Request for Qualification (RFQ) for redevelopment of Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT), Mumbai on Public-Private Partnership (PPP) basis on August 20, 2020,after ‘in principle’ approval of Public Private Partnership Appraisal Committee (PPPAC).

The redevelopment plan encapsulates integration of various modes to make this railway station a multimodal transport hub as per the vision of Prime Minister Narendra Modi. It will include segregation of arrival and departure, Divyang friendly station, better level of services for passengers, energy efficient building and restoring the heritage site as per its 1930 levels.

The CSMT railway station will function like a city centre rail mall where in addition to a passenger’s transportation needs, his daily needs will also be fulfilled, like – Retail, F&B, Entertainment, Souvenir shopping. The aim is that most of his daily needs are catered to by visiting the railway station thus avoiding unnecessary travel within the city.

The infrastructure at the redeveloped station is envisaged in such a manner that it promotes seamless integration from one mode to another mode. Upon redevelopment, it will provide multiple access points to passengers for easy commute and also a direct linkage between suburban railway, harbour line, long distance, Metro rail and commercial development. This will help in reducing the congestion while enjoying the enhanced heritage structure. Efforts would also be made to integrate the last mile connectivity so that passengers can be provided end-to-end solutions.

A total of 10 applications were received which include –

GMR Enterprises Pvt. Ltd., ISQ Asia Infrastructure Investments,  Kalpataru Power Transmission Ltd., Anchorage Infrastructure Investments Holdings Ltd., Adani Railways Transport Ltd., Brookfield Infrastructure Fund IV, Moribus Holdings Pte. Ltd., Godrej Properties Ltd., Keystone Realtors Pvt. Ltd, and Oberoi Realty Limited.

The Key salient features of the project are:

In principle approval of PPPAC comprising representatives from Ministry of Finance, Ministry of Law, Niti Aayog, Ministry of Railways etc, as per the Guidelines for PPP projects by Govt. of India;

Extended Operations & Maintenance (O&M) period of railway stations: For providing better passenger services and amenities, railway stations shall be on license with Concessionaire for 60 years;

Additional revenue stream: Pre-determined user charges (as notified by MoR) from railway station users as in practice in airports etc;

Long Term lease-rights for real estate: Up to 99 years for residential or mix use format & 60 years for non-residential formats. 

About 2.54 lakh sqm of Built up Area (tentative) is allowed for commercial development. 

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;

The redevelopment cost of the station (mandatory cost) including the cost of financing and contingency etc. is Rs. 1642 crore. The investment opportunity for redevelopment is on DBFOT (Design, Build, Finance, Operate and Transfer) basis.

The Applicants fulfilling the Eligibility Criteria shall be shortlisted for participating in further stage. 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 CSMT Railway station.

While the initial planning was done by Ms AREP, French Consultant, the Technical Consultant for planning of the project now is Ms AECOM. The Financial and Transaction Consultant is Ms Knight Frank.