2020-06-26 22:40:00
Railway Station

Even as investor sentiment took a hit due to the covid-19 crisis, Indian Railway Stations Development Corp. (IRSDC) received interest from infrastructure majors such as GR Infrastructure, Kalyan Toll, Cube Construction and I Squared Capital to redevelop Gwalior, Nagpur, Amritsar and Sabarmati stations, and turn them into city centres.

The estimated cost for the four projects is 1,300 crore and the redeveloped stations will be called ‘Railopolis’.

IRSDC on Friday opened the request for qualification applications for the four stations. “JKB, GMR, ISQ Capital, Kalpataru, FairFax/Anchorage, Monte Carlo, GR Infrastructure, Kalyan Toll, Cube Construction are some from whom applications have been received,” according to an official statement.

The railways will seek requests for proposals from the shortlisted parties, following which bids will be invited.

Of the 32 applications, nine were for Sabarmati station in Ahmedabad. The total built-up area allowed for commercial development is 5.4 million sq ft. No land use change and prior environmental clearances will be required for these projects, IRSDC said.

“The four projects hold distinction of being the first railway projects to have in-principle approval of Public Private Partnership Appraisal Committee (PPPAC), formed by the government of India (GoI) for PPP projects,” the statement said.

The stations will also be the first to have provisions for pre-determined user charges on passengers and visitors, as one of the main revenue stream for the concessionaire of the redeveloped stations.

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