IRSDC invites RFQ bids for redevelopment of Mumbai's iconic Chhatrapati Shivaji Maharaj Terminus

The Indian Railway Stations Development Corporation (IRSDC) on Monday invited Request for Qualification (RFQ) for the redevelopment of the Chhatrapati Shivaji Maharaj Terminus (CST) in Mumbai on PPP-mode.

The pre-bid conference is scheduled to take place on September 22 and the application due date has been set on October 22.

The redevelopment cost (mandatory cost) of the station, which houses the headquarters of the Central Railway, including the cost of financing and contingency etc. comes up to at Rs. 1,642 crore. The investment opportunity for redevelopment is on DBFOT (Design, Build, Finance, Operate and Transfer) basis.

The RFQ process has been initiated after the in-principle approval of the Public-Private Partnership Appraisal Committee (PPPAC), a press statement issued here said. The two-stage bidding procedure consists an RFQ and Request for Proposal (RFP).

The selected bidder at the RFP stage shall take up the redevelopment of the Railway station which is also a UNESCO World Heritage Site and commercial development of the surrounding railway land on leasehold basis up to 60 years for commercial development. The same would be extended 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 IRSDC will be a single-window approver of the master plan and building plans in consultation with local authorities in terms of power conferred under Section 11 of Railway Act, 1989.

The planning has been done by M/s AREP from France and discussions have been held with various stakeholders on a periodic basis.