State-run Ircon International has decided to partner with Arabian Construction Company (ACC) to submit a joint bid for the highly publicized New Delhi railway station redevelopment plan.
Nine leading global and national companies including ACC, Adani Railways Transport, BIF IV India Infrastructure Holding (DIFC), ISQ Asia Infrastructure Investments, Anchorage Infrastructure Investments Holdings, Kalpataru Power Transmission, GMR Highways, Omaxe, and Elpis Ventures had applied quotation. for the redevelopment of the New Delhi station.
“We are going to submit a joint bid for the New Delhi station,” said S K Chaudhary, president, and managing director of Ircon. The project is expected to cost Rs 6.5 billion. The plan is to redevelop the station into an integrated shopping, retail, and hotel center.
The redevelopment of the New Delhi railway station is a flagship project of the Railway Land Development Authority (RLDA), and the first to be carried out in the Transit-Oriented Development (TOD) concept in Delhi-NCR. The project will offer multiple sources of income to the developer, including income from real estate rights, and is scheduled to be completed in about four years. The concession period will be 60 years.
On the other hand, Parnika Commercial & Estates, a major construction company based in Delhi, won the contract for 384 million rupees for the redevelopment of the Safdarjung railway station in New Delhi.
The project envisages the redevelopment of the Safdarjung railway station as a modern transportation hub with integrated transportation and office development. The development will include platforms, pedestrian bridges, and also commercial space that will be monetized by the company.
It was in 2017 that Ircon International and the Rail Land Development Authority (RLDA) signed a memorandum of understanding to rebuild the station. “Sikka Associates will be the architect of the project and the contract will be for a period of 30 years,” said Chaudhary.
News Source: MoneyControl