The New Delhi railway station is all set to get a major renovation. The Rail Land Development Authority (RLDA) has geared up to connect with international stakeholders and real estate developers to build a completely new railway station worth 680 million dollars at the Indian capital.
Major Investors Involved
The Rail Land Development Authority (RLDA), a body under Railway Ministry, is in charge of the redevelopment of railway resources including the New Delhi railway station. The corporation has decided to adopt the public private partnership (PPP) model to raise the funds for this mega project.
RLDA had conducted a pre-bidding meeting with all major investors in September 2020. This meeting was attended by Adani, GMR, JKB Infra, France’s SNCF, Arabian Construction Company and Anchorage posing them as the most potential investors.
Most recently, the railway corporation is planning to engage with builders and capitalists from European, Australian, and South Asian countries to conceptualize the project. For that, it is going to carry out an online roadshow between January 14 and 19 to discuss the specifications and transaction structure with potential clients from Singapore, Australia, Dubai, and Spain.
The vice-chairperson of RLDA, Ved Prakash Dudeja asserted, “RLDA has also developed a walkthrough of the project that will be showcased during the roadshow for an in-depth understanding,”
RLDA’s plan of action
The project is planned on the basis of the design-build finance operate transfer (DBFOT) model and is expected to be completed in the next four years. It is spread across an area of 120 hectares out of which 88 hectares will be developed in phase one itself. Right now the project is at the Request for Qualification (RFQ) stage which is expected to be completed till 2 February 2021.
The corporation has estimated an expenditure of around 680 million dollars. The chosen private contributors will get the concession for building the project for 60 years.