September 19, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

IRSDC’s pre-bid meeting for redevelopment of Udaipur, Surat and Udhna Railway Stations attracts interest from 14 companies

Over a dozen leading developers, funds and consultants, including , Kalpataru Group, Cube Constructions, JKB Infrastructure, GMR, , Monte Carlo, G R Infra have shown interest in redevelopment of Udaipur, Surat and Udhna Railway Stations.

In the pre-bid meeting by Indian Railway Stations Development Corporation (IRSDC), mandated to redevelop these three stations, 14 companies took part.

The objective of redevelopment is to transform these railway stations into ‘Railopolis’ to provide state-of-the-art amenities at par with those of an international airport for a superior travel experience.

“We are enthused by the overwhelming response in this recently concluded pre-bid meeting as well regarding redevelopment of Surat, Udhna and Udaipur Railway Stations. The stations will be redeveloped in line with global standards to transform them at par with international airports and provide world- class amenities to the travellers,” said SK Lohia, MD & CEO IRSDC.

“The station redevelopment will confer several benefits in terms of improved connectivity, multi-modal transport integration and boosting retail and real estate. It will also lead to the generation of employment opportunities, thereby ushering a socio-economic transformation of the respective regions,” Lohia added.

The Udaipur Railway station will be redeveloped on a Design-Build Finance Operate Transfer (DBFOT) model on the principle of Transit-Oriented Development (TOD). The total area for development is 4,98,115 sq.m, and the built-up area for station estate development is up to 1,01,374 sqm. The indicative cost for redevelopment is Rs132 crores over a three- year timeframe.

The redevelopment of the Surat MMTH Railway Station will be carried out by a special purpose vehicle, Surat Integrated Transportation Development Corporation Limited (SITCO), incorporated under the Companies Act, 2013 as a joint venture amongst IRSDC, GSRTC and SMC, with the approval of Ministry of Railways and Government of Gujarat.

The total area for development is 3,31,491 sq. m. for the Surat MMTH Railway Station and 7,38,088 sq. m. for Udhna Railway Station. The built-up area (BUA) for station estate development is approximately 4,65,000 sq. m., and 37,175 sq. m. for the Surat MMTH Railway Station and Udhna Railway Station, respectively. The indicative cost of the Surat and Udhna railway station redevelopment is Rs 1285 crore over a four-year timeframe.

IRSDC is driving the agenda of station redevelopment envisioned by the Government of India, with the participation of private players as a part of PPP projects. As part of this agenda, work on the redevelopment of 125 stations is in progress. Out of this, IRSDC is working on 63 stations, and RLDA is working on 60 stations and two remaining stations by Railways itself. As per current estimates, the total investment needed for the redevelopment of 125 stations along with real estate development is about Rs 50,000 crore.

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