New Delhi: Kicking off the formal bidding process for modernizing India’s key railway stations, the Indian Railways has called a pre-bid conference on Friday for the New Delhi station, slated to cost around Rs5,000 crore.
The New Delhi station is first among 22 railway stations the ministry plans to turn into “world-class stations” under a public-private partnership programme.
The idea is to leverage land around the railway stations and lease them to developers rebuilding the stations who, in turn, can earn their revenue by commercially developing a part of the real estate allocated to them. The ministry expects to select a bidder in July.
Some 20 companies, including Larsen and Toubro Ltd, Hindustan Construction Co. Ltd, Lanco Infratech Ltd, DLF Ltd, Reliance Industries Ltd, GMR Infrastructure Ltd, Dalmia Cement (Bharat) Ltd, Videocon Industries Ltd and Bharti Enterprises have shown interest in the mega-infrastructure project.
According to officials in the know, who did not wish to be identified, design consultant for the project, Terry Farrell, is working on a concept plan for the project.
Meanwhile, the Planning Commission is drafting a concession agreement for the project. According to a government official associated with the model concession agreement, the work will be completed in a couple of months once the ministry finishes its pre-bid qualifications and once the financial consultants and the architect associated with the project give their detailed reports. The New Delhi station is built on 87 hectares of land in the heart of the capital’s business district, a chunk of which would be available for commmercial development.