The Indian Railway Stations Development Corporation Ltd. (IRSDC) has set 26th June, 2020 as the last date for submission of bids for redevelopment of 4 railway stations (Gwalior, Nagpur, Amritsar & Sabarmati).
In a press note, published on twitter, IRSDC said,”Indian Railway Stations Development Corporation Ltd. (IRSDC) invites RFQ for redevelopment of Gwalior, Nagpur, Amritsar and Sabarmati Railway Station. IRSDC takes series of steps to make these unique projects more investment friendly. Last opportunity for Developers and Fund houses, last date- 26/6/20.”
Press Note. pic.twitter.com/alr16m0RYk
— Indian Railway Stations Development Corp. Ltd. (@irsdcinfo) June 17, 2020
- With a view to redevelop above mentioned four railway stations and transform them into iconic city centres, IRSDC invited RFQs (Request for Qualification) in December 2019, the press note said.
- The RFQs of the four stations are based on User Charge and mixed use land monetization.
- This investment opportunity is planned on DBFOT (Design, Build, Finance, Operate and Transfer) model with a concession period of 60 years for station development and station estate development.
- However, the concession period for residential/city side development has been set at 99 years.
- This entire bidding procedure is a two-stage bidding process consisting of RFQ and RFP (Request for Proposal).
- A Concessionaire will then be selected for upgradation and redevelopment of the railway stations, and development of the surrounding railway land, followed by operation and maintenance.
- In the history of Indian Railways, these four redevelopment projects are the first which have received the approval of Public Private Partnership Appraisal Committee (PPPAC), formed by GOI for PPP projects.
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. With the intimation on ‘User Charges’ by MoR GOI, an additional revenue stream will be available as in practice in other infrastructure sectors like highways, airports etc.
IRSDC calls out interested bidders and urge them to apply for this one of its kind investment opportunity before the due date of 26th June, 2020. Interested bidders can go to: https://irsdc.in/active to review and submit their application.
IRSDC is a Joint venture company of RLDA and IRCON with 50:50 ownership. RITES may also join shortly as another promoter with 24% equity. IRSDC has been entrusted to implement the task of Railway Station development/ redevelopment projects of the Ministry of Railways, Gol.
Source: IRSDC-Press Note