Mumbai's iconic 133-year-old Chhatrapati Shivaji Maharaj Terminus to get a facelift!

Mumbai's iconic 133-year-old Chhatrapati Shivaji Maharaj Terminus to get a facelift!

The IRSDC has shortlisted 9 bidders for CSMT building redevelopment.

The Chhatrapati Shivaji Maharaj Terminus (CSMT) is an architectural symbol of Mumbai's growth and evolution, since its inception in the erstwhile Bombay. A constant in the ever-changing metropolis, this 133-year-old iconic building has seen the city progress through the test of times and is now eyeing a redevelopment for itself! As per reports, The Indian Railway Stations Development Corporation (IRSDC) has shortlisted 9 bidders for the proposed refurbishment, which has been budgeted at ₹1,642 crores on a DBFOT basis.

IRSDC adopts a 2-phase elaborate bidding procedure

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Tagged as a UNESCO World Heritage Site, the CSMT will soon get a facelift to float the ambition of providing an enhanced experience to all travellers. The proposal was tabled after the IRSDC invited Requests for Qualification (RFQ) in August last year, to transform the CSMT building and railway station into a model city centre. Of the 10 applications received, the Development Corporation has shortlisted a host of 9 bids for the next phase, in accordance with their financial capacity, for this is a big-budget project.

These include Godrej Properties Ltd, Anchorage Infrastructure Investments Holdings Ltd, Oberoi Realty Ltd, ISQ Asia Infrastructure Investments Pvt Ltd, Adani Railways Transport Ltd, Kalpataru Power Transmission Ltd, GMR Enterprises Pvt Ltd., Moribus Holdings Pvt Ltd and BIF IV Infrastructure Holding DIFC Pvt Ltd.

IRSDC has planned to run a two-phase bidding procedure, consisting of RFQ and RFP (Request for Proposal), for the shortlisted bidders. The agency zeroed down by this elaborate screening process will be awarded the CSMT redevelopment project, read reports. "The IRSDC is committed to transforming the CSMT railway station into a state-of-the-art transport hub and we shall soon float an RFP for the qualified bidders," said Lohia.

CMST begins its journey to become a 'Railopolis'

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The IRSDC further informed that priority redevelopment of railway stations is on the Centra government's agenda to convert railway station areas into a mini-smart city or 'Railpolis'. This idea is set to magnet huge investments and business opportunities by its- multi-thronged development. These centres aim to become a one-stop destination where one can live, work, play and ride.

According to the norms, the CSMT project has been secured in principle approval of various Central Ministries, for facilitating better passenger amenities and services. This authorises the station to be on the licence with the concessionaire for 60 years and adopt an additional revenue stream by way of pre-determined user charges from the commuters, as already practised at airports.

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