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 shortlisted to redevelop the New Delhi railway station, entailing an estimated capital expenditure of Rs 6,500 crore.
About 20 companies participated in the first pre-bid meeting, of which nine have submitted Request for Qualification, according to the Rail Land Development Authority (RLDA). 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.
BIF IV India Infrastructure Holding (DIFC) Pvt. Ltd, ISQ Asia Infrastructure Investments Pte. Ltd., and Elpis Ventures Pvt Ltd are the other companies who participated in the RFQ.
These companies will now undergo technical evaluation. In the next stage RLDA will float the Request for Proposal (RFP) for selected participants who get qualified in the technical process. The development follows the pre-bid meetings and virtual roadshows that informed the stakeholders of various developments and elicited feedback on the project.
“The redevelopment of the New Delhi Railway Station is our flagship project that will stimulate economic development of NCR. The project attracted interest from various national and international stakeholders. The project will be instrumental in augmenting the local economy, generating employment opportunities and boosting the tourism potential of Delhi-NCR, ensuring Inclusive Development for Aspirational India” said Ved Parkash Dudeja, Vice Chairman, RLDA.
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 about 450,000 passengers daily (about 160-170 million passengers annually). The station handles 400 trains per day, which is expected to further increase.
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 concession period is for 60 years.
The station will be redeveloped into a world-class station in line with global standards with dome-shaped terminal buildings with 2-arrival and 2-departures at the concourse level, two Multi-Modal Transport Hubs (MMTH) on its every side, 40-floor high-rise twin towers (with Hotel / Offices and Retail at Podium) and pedestrian boulevard with high- street shopping among the salient features of the proposed development.
Pedestrian movement, cycle tracks, green tracks and non-motorized Vehicle 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 station has a master plan area of 120 hectares, out of which 88 hectares is being planned in Phase 1 (of the Project). RLDA is the approving authority for the Master Plan.
According to the plans, the station will be integrated with the Delhi Metro Rail’s Yellow line, airport express line and with the Connaught Place outer circle through a pedestrian boulevard.
The project would be developed on a Design-Build-Finance-Operate-Transfer (DBFOT) model for a concession period of 60 years.
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.