43 prospective bidders attended the CSMT redevelopment pre-bid meet held yesterday to clarify interested parties’ doubts and queries. The pre-bid meeting received good response from the industry and developers & fund houses seemingly are very much interested in this investment opportunity.
The meeting was attended by the likes of Adani Group, Tata Projects Ltd., Eldeco, GMR Group, JKB Infrastructure Pvt Ltd, SNCF Hubs & Connexions, I Squared Capital, Kalpataru Power Transmission Ltd., Ace Urban developers, GR Infrastructure, Essel Group, Larsen & Toubro; architects, namely, BDP Singapore, Hafeez Contractor, AECOM; Fund houses, namely, Anchorage Infrastructure Investment Holdings Ltd., Brookfield and consultancy firms namely JLL, Boston Consultancy Group, KPMG, PwC India, EY and embassies namely British High Commission.
During the Pre-bid meeting, it was highlighted that at the RFQ stage the applicants would need to fulfil only the financial criteria that is minimum net worth (for developers) or minimum ACI (for funds) and the technical eligibility criteria has been dispensed with. Request for Qualification (RFQ) for redevelopment of Chhatrapati Shivaji Maharaj Terminus (Mumbai) on PPP was invited by IRSDC vide NIT published on 20.08.2020.
The infrastructure at the redeveloped station is envisaged in such a manner that it promotes seamless integration from one mode to another mode. Upon redevelopment, it will provide multiple access points to passengers for easy commute and also a direct linkage between suburban railway, harbour line, long distance, Metro rail and commercial development. This will help in reducing the congestion while enjoying the enhanced heritage structure. Efforts would also be made to integrate the last mile connectivity so that passengers can be provided end-to-end solutions.
The CSMT project cost is of Rs. 1642 crore and the cost of Real estate is Rs. 1433 crores. The total real estate BUA is 25 lac sq. ft. at CSMT, Wadi Bunder and Byculla. The construction period is of 4 years. The selected bidder at the RFP stage shall take up the redevelopment of the Railway station and commercial development of the surrounding railway land on leasehold basis for 60 years for commercial development and up to 99 years for residential development on selected plots, along with operation and maintenance of the station for 60 years on concession basis.