Adani, GMR among firms in next round for Mumbai's CSMT rly station revamp

Redevelopment cost pegged at Rs 1,642 cr; project to be executed on design, build, finance, operate and transfer (DBFOT)-basis

Nine bidders have qualified to submit their proposals for the redevelopment of Chhatrapati Shivaji Maharaj Terminus Railway Station (CSMT) in Mumbai.

A statement from the Indian Railway Stations Development Corporation (IRSDC) said these are Adani Railways Transport, GMR Enterprises, Godrej Properties, Oberoi Realty, ISQ Asia Infrastructure Investments, Kalpataru Power Transmission, Anchorage Infrastructure Investments Holdings, Brookfield Infrastructure Fund IV, and Moribus Holdings.

The selected bidders have reached the Request for Proposal (RFP) stage. There were 10 bidders in the earlier Request for Quotation (RFQ) stage and Keystone Realtors is the only one that did not qualify.

It is estimated that the redevelopment cost of the station (mandatory cost), including cost of financing and contingency, among others, is Rs 1,642 crore. The project is to be executed on design, build, finance, operate and transfer (DBFOT)-basis.

IRSDC said the applications were evaluated in accordance to the financial capacity of bidders. They needed to have a minimum net worth of Rs 821 crore at the close of preceding financial year, among other qualifications.

The entire bidding procedure is a two-stage bidding process consisting of RFQ and RFP. The selected bidder after the RFP stage shall take up the redevelopment of the CSMT Railway station, IRSDC said.

IRSDC had invited request for qualification (RFQ) for redevelopment of the station through the public-private partnership (PPP) route on August 20, 2020. This had come after an in-principle approval of the Public Private Partnership Appraisal Committee (PPPAC). The committee had representatives from the ministry of finance, ministry of law, NITI Aayog and the ministry of railways, among others.