Mumbai: Nine bidders shortlisted for CSMT Station redevelopment project

For the redevelopment of the iconic Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT) in South Mumbai, nine bidders have been shortlisted.

They were shortlisted by the Indian Railway Stations Development Corporation Ltd. (IRSDC), the nodal agency for station redevelopment in India after evaluation of the RFQ (Request for Quotation) applications.

The nine bidders that have been shortlisted are -- Godrej Properties, Anchorage Infrastructure Investments Holdings, Oberoi Realty, ISQ Asia Infrastructure Investments, Adani Railways Transport, Kalpataru Power Transmission, GMR Enterprises, Moribus Holdings Ltd., and BIF IV Infrastructure Holding DIFC.

In the next steps, IRSDC will float a Request for Proposal (RFP) soon to the qualified bidders. Moreover, this redevelopment project promises an airport-like experience to passengers and opening up space for commercial and residential units in South Mumbai.

CSMT railway station redevelopment is one of our most ambitious projects and we at IRSDC are committed to transforming the it into a state-of-the-art transport hub, officially mentioned.

Also Read: CSMT becomes first Green Railway station in Mumbai

IRSDC invited RFQ in August 2020 after 'in principle' approval of Public-Private Partnership Appraisal Committee (PPPAC) to redevelop CSMT Railway station and transform it into an iconic city center.

On January 15, 2021, IRSDC opened the RFQ applications of CSMT Railway station and received an overwhelming response from 10 developers despite the current Covid-19 scenario and nine applications are qualified for the next stage.

Here’s everything to know about this project:

• The redevelopment cost of the station including the cost of financing and contingency etc. is INR 1,642 crores.
• The investment opportunity for redevelopment will be on DBFOT (Design, Build, Finance, Operate and Transfer) basis.
• It will also generate an additional revenue stream by Pre-determined user charges as notified by MoR from railway station users.
• The project will provide up to 99 years of lease rights to real estate for residential or mix-use format and 60 years for non-residential formats.
• Moreover, it will also permit up to 2.54 lakh sqm of Built-up Area for commercial development. Of this, 1.4 lakh sq m will be available at CSMT, 80,000 sq m at Byculla and another 30,000 sq m at Wadi Bunder.”
• The redevelopment will include segregation of arrival and departure areas, a disabled-friendly station, better services for passengers, an energy-efficient building, and restoring the heritage site to the 1930 level.
• There is a plan for railopolis, which will provide a mall-like experience at the P D’Mello Roadside entry, which will be integrated with a suburban platform, an underground parking and an elevated deck to pick up and drop passengers.

Besides, Railways is planning to revamp 123 railway stations in collaboration with private sectors. Of these, IRSDC will operate at 63 stations and Rail Land Development Authority (RLDA) at 60 stations.

Also Read: Mumbai railway stations to be redeveloped