Four Foreign Entities Among Nine Major Players To Bid For New Delhi Station Redevelopment Project

Four foreign companies among nine major players have qualified to participate in the financial bid for redeveloping New Delhi railway station.

Adani Railways transport Ltd, GMR group, Arabian Construction Company, Anchorage Infrastructure, Omaxe and Kalpataru power transmission Ltd are among the nine domestic and international companies qualified in the RFQ for the Rs 6,500 crore New Delhi Station redevelopment project.

About 20 companies participated in the first pre-bid meeting, of which nine have submitted Requests for Qualification, according to the Rail Land Development Authority (RLDA).

BIF IV India Infrastructure Holding (DIFC) Ltd, ISQ Asia Infrastructure Investments Ltd, and Elpis Ventures Ltd are the other companies that have qualified to bid for the flagship project.

After technical evaluation, nine companies have been qualified to redevelop the New Delhi railway station, a senior RLDA official said.

RLDA has planned a mix of retail, office and hospitality developments in a 30-acre area near Connaught Place which will help the Indian Railways in redeveloping the New Delhi railway station.

In the next stage, RLDA will float the Request for Proposal (RFP) for qualified participants.

Despite the pandemic, RLDA had undertaken the pre-bid meetings followed by virtual roadshows to inform the stakeholders of various developments and elicited feedback on the project.

The redevelopment of the New Delhi station, an ambitious project of the Railways, is expected to stimulate economic development in the region.

The project has attracted interest from various national and international stakeholders and will be instrumental in augmenting the local economy, generating employment opportunities and boosting the tourism potential of Delhi-NCR.

The concessionaire will earn revenues from several components — passenger handling fees, ticket sales and revenues from passenger facilities within the station, such as retail areas, lounges, parking and advertisement spaces.

Additionally, revenue will come in from development and commercial real estate leasing.

The developer is expected to give an annual concession fee (ACF) to the authority along with a fixed upfront premium.

The New Delhi station handles 400 trains per day with about 450,000 footfalls daily.

New Delhi Railway Station Redevelopment is the first project to be undertaken on the Transit-Oriented Development (TOD) concept in Delhi-NCR.

The project offers multiple revenue streams to the developer, including revenue from real estate rights and is slated to be completed in around four years.

The project would be developed on a Design-Build-Finance-Operate-Transfer model for a concession period of 60 years.

The station will be redeveloped into a world-class station in line with global standards with dome-shaped terminal buildings with separate arrival and departure provisions.

The Multi-Modal Transport Hubs, 40-floor high-rise twin towers for hotels, shopping complex, parking lot and pedestrian boulevard are among the salient features of the proposed development.

Pedestrian movement, cycle tracks, green tracks and non-motorised vehicles have been integrated into the proposed development plan.

The station will be developed to ensure multi-modal transport integration and development. It is connected to the IGI Airport through the Airport Express Line Metro and with Delhi NCR via Yellow Line of Delhi Metro.

DTC bus stops lie on both sides of the station.

The phased redevelopment in four years involves station redevelopment, development of associated infrastructure, upgradation of social infrastructure as well as refurbishment of railway offices and railway quarters.