Indian Railway Stations Development Corporation Ltd. (IRSDC) invited RFQs (Request for Qualification) in December 2019 to redevelop the four railway stations i.e. Gwalior, Nagpur, Amritsar & Sabarmati and transform them into iconic city centres.
On June 26, 2020, IRSDC opened the RFQ applications of these four railway stations and received overwhelming response from 32 developers and funds despite the current COVID-19 scenario.
IRSDC evaluated and shortlisted the applications received and out of the 32 applications, 29 applications are ‘Qualified’ for the next stage. 6 applicants qualify for Nagpur, 8 applicants qualify for Gwalior, 6 applicants qualify for Amritsar and 9 applicants qualify for Sabarmati.
The list of the qualified applicants station-wise is as below:
|Tech Qua: 930 cr Fin Qua: 233 cr||Tech Qua: 600 cr Fin Qua: 150 cr||Tech Qua: 750 cr Fin Qua: 188 cr||Tech Qua: 312 cr Fin Qua: 78 cr|
|1||G R Infraprojects Limited||Qualified||Qualified||Qualified||Qualified|
|2||Kalpataru Power Transmission Ltd.||Qualified||Qualified||Qualified||Qualified|
|3||GMR Business and Consultancy LLP||Qualified||Qualified||Qualified||Qualified|
|4||Anchorage Infrastructure Investments Holdings Limited||Qualified||Qualified||Qualified||Qualified|
|5||ISQ Asia Infrastructure Investments||Qualified||Qualified||Qualified||Qualified|
|6||Monte Carlo Limited||Qualified||Qualified||Qualified||Qualified|
|7||JKB Infrastructure + DMIA||Disqualified||Qualified||Disqualified||Qualified|
|8||Kalyan Toll Infrastructure Limited||Disqualified||Qualified||Qualified|
|9||Cube Construction Engineering||Qualified|
The Applications were evaluated in accordance to the following Eligibility Criteria:-
- Eligible Period: Over the past 5 financial years preceding the Application Due Date.
- Threshold value: The sum total value for eligible projects across various sectors for the Eligible Period after applying factors for experience should be minimum twice the Indicative Project Cost (excluding Station Estate Development Cost) after applying the experience factor.
- Individual Eligible Project Value: Each claimed eligible project not be less than 20% of the Indicative Project Cost/ payments/ receipts, as the case may be.
- Minimum Net worth: 50% of the Indicative Project Cost at the close of preceding financial year OR,
- Minimum ACI: 50% of the Indicative Project Cost at the close of the preceding financial year (for AIF or Foreign Investment Fund).
The Request for Proposal (RFP) for these four projects is under preparation and will be called shortly from the shortlisted applicants.
The total Indicative cost for redevelopment of the above four stations is about Rs. 1300 crore. The total built up area (BUA) allowed for commercial development is 54 lakh sq. ft. No land use change and prior environmental clearance is required for these projects as these are Railway projects under Railway Act 1989. IRSDC is the nodal agency for redevelopment of stations.
The above four Projects hold distinction of being the first railway projects to have in principle approval of Public Private Partnership Appraisal Committee (PPPAC), formed by GOI for PPP projects. These four stations are also the first ones to have provision of pre-determined user charges on passengers and visitors as one of the main revenue stream for the concessionaire of the redeveloped stations.
Indian Railway Stations Development Corporation Ltd. (IRSDC) is a Joint venture company of RLDA and IRCON with 50:50 ownership. RITES is also likely to join shortly as another promoter with 24% equity so that RITES and IRCON shall jointly hold 50% equity. IRSDC is at the core of Indian Railway’s mission of transforming country’s railway stations into world-class 24×7 hubs.
These redeveloped hubs will be called as ‘Railopolis’ which will attract huge investment and create business opportunities in the heart of cities, creating city centers around redeveloped stations. With the application of Form Based codes developed by IRSDC, the availability of public area in Railopolis shall be much higher thus creating superior experience for the users.
Source: IRSDC-Press Note