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$680 million project afoot to redevelop New Delhi station, Railways woos global investors

As per the estimate by Railways, the project is going to involve a $680 million investment and is slated to be completed in four years after the work is awarded.

An artist’s impression of the new railway station.

The work for the redevelopment of New Delhi railway station is in full swing with the Railway Land Development Authority organising virtual roadshows for global stakeholders to engage them in various aspects of the project.

Infrastructure majors such as Adani, GMR, JKB Infra, France’s SNCF, Arabian Construction Company and Anchorage had taken part in the project’s pre-bid meeting held in September 2020. As per the estimate by Railways, the project is going to involve a $680 million investment and is slated to be completed in four years after the work is awarded.

The roadshows are being held between January 14 and 19 and prospective investors and developers from various countries and cities such as Singapore, Australia, Dubai and Spain will be engaged in discussions about the project concept and the proposed transaction structure with potential bidders.

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“RLDA has also developed a walkthrough of the project that will be showcased during the roadshow for an in-depth understanding,” said Ved Parkash Dudeja, vice chairman, RLDA.

The New Delhi railway station is planned to be developed on a Design-Build Finance Operate Transfer (DBFOT) model, wherein the private party will get the lease of the station building for 60 years.

The project is currently at the Request for Qualification (RfQ) stage, with the due date on February 2, 2021. The Master Plan area is approximately 120 hectares, out of which 88 hectares is being planned in phase 1.

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