January 21, 2021

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Chhatrapati Shivaji Maharaj Terminus in Mumbai to get swanky look underneath Indian Railways’ redevelopment challenge | Financial system Information

Chhatrapati Shivaji Maharaj Terminus in Mumbai to get swanky look under Indian Railways' redevelopment project

New Delhi: Ministry of Railways has invited Request for Qualification (RFQ) for the redevelopment of Chhatrapati Shivaji Maharaj Terminus (Mumbai) Railway Station on PPP mode. Candidates fulfilling the eligibility standards shall be shortlisted for collaborating in an extra stage. The complete bidding process is a two-stage bidding course of consisting of RFQ and Request for Proposal (RFP), in accordance with an official assertion.

The chosen bidder on the RFP stage shall take up the redevelopment of the Railway station and business growth of the encircling railway land on leasehold foundation as much as 60 years for business growth and as much as 99 years for residential growth on chosen plots, together with operation and upkeep of the station for 60 years on a concession foundation.  

The consumer cost may also be one other steady income to the concessioner which will likely be accessible simply after the Business Operation Date (COD) of the station.

The planning has been executed by M/s AREP from France and discussions have been held with varied stakeholders on a periodic foundation. The redevelopment price of the station (necessary price) together with the price of financing and contingency and so forth. is Rs 1642 crore. The funding alternative for redevelopment is on DBFOT (Design, Construct, Finance, Function, and Switch) foundation.

Key salient options of the challenge are:

1. In-principle approval of PPPAC comprising representatives from Ministry of Finance, Ministry of Regulation, Niti Aayog, Ministry of Railways and so forth, as per the Pointers for PPP initiatives by the federal government.

2. The eligibility standards are when it comes to monetary capability on the RFQ stage and the web value / ACI must be Rs 821 cr on the shut of the previous monetary 12 months.

3. The development and O&M expertise capability shall need to be met after the award of the challenge however earlier than the appointed date.

4. Prolonged O&M interval of railway stations: For offering higher passenger providers and facilities, railway stations shall be on the license with Concessionaire for 60 years.

5. Extra income stream: Pre-determined consumer fees (as notified by MoR) from railway station customers as in follow in airports and so forth.

6. Lengthy Time period lease-rights for actual property: As much as 99 years for residential or mix-use format & 60 years for non-residential codecs. As much as 2.54 lakh sqm of Constructed-up Space (tentative) is allowed for business growth. The precise built-up space allowed shall be recognized on the RFP stage.

7. No Change in Land use is required.

8. No prior environmental clearance is required from the Ministry of Setting and Forest.

9. IRSDC will likely be a single-window for approval of grasp plan and constructing plans in session with native authorities when it comes to energy conferred underneath Part 11 of Railway Act, 1989.

10.  Different Funding Fund (AIF) or International Funding Fund (FIF) are additionally eligible to take part.

11. All Candidates who meet the qualification standards shall be eligible to submit worth bid on the RFP stage, i.e., there isn’t any higher cap for shortlisting of Candidates for RFP stage.

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