India’s Railway Land Development Authority (RLDA) has sought bids from private entities to redevelop the New Delhi railway station.
The plan seeks to redevelop a 500,000m² area at the station and an additional 260,000m² of surrounding area for commercial development, reported Moneycontrol.com.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The overall project will cost around Rs65bn ($887m) and is expected to complete in four years.
According to the publication, the scope of works will include upgrading station infrastructure, refurbishment of platforms, associated structures, railway offices and quarters among others.
An elevated access road network with multi-level car parking and an elevated concourse with a separation for arriving and departing passengers will also be built at the site.
The commercial component of the project will involve building retail, office, and hospitality developments on a 30-acre area.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAs agreed, the New Delhi station redevelopment project will be delivered on a design, build, finance, operate, transfer (DBFOT) model for a 60-year concession period to the private entity or a consortium.
RLDA vice-chairman Ved Parkash Dudeja was quoted by Moneycontrol.com as saying: “New Delhi is the national capital and a nerve centre of political, economic and social activities. New Delhi Railway Station will be transformed into a world-class, one-stop destination for retail, commercial and hospitality business.
“The development will boost the tourism potential and accentuate real estate, as well as investment prospects in New Delhi and surrounding regions.”
The request for qualification (RFQ), floated by the RLDA, is expected to be opened on 6 November. It will be followed by request for proposal (RFP) next year.
The New Delhi station is one of the largest railway stations in the country. Before the Covid-19 pandemic, the station handled around 400 trains every day.
Indian Railways recently extended the bidding process for private train project by one month to 7 October.
