State-run Ircon International has decided to jointly bid for the New Delhi railway station redevelopment project along with Arabian Construction Company (ACC).

Ircon told the media that the project is expected to incur a cost of Rs 6,500 crore. The plan is to redevelop the station into an integrated commercial, retail, and hospitality hub.

New Delhi Railway Station Redevelopment is a flagship project of the Rail Land Development Authority (RLDA), and the first to be undertaken on the transit-oriented development (TOD) concept in Delhi-NCR. The project will offer multiple revenue streams to the developer, including revenue from real estate rights and is to be completed in around four years. The concession period will be for 60 years.

The project has a master plan area of 120 hectares, of which 88 hectares are being planned in phase one of the project. The redeveloped station will be connected to the Indira Gandhi International (IGI) airport through the Delhi Metro Airport Express Line and Delhi-NCR via the Yellow Line. Delhi Transport Corporation (DTC) bus stops will be present on both sides of the station.

As we have reported earlier, nine players had submitted a request for quotation for the redevelopment of the New Delhi station:

Adani Railways Transport
Anchorage Infrastructure Investments Holdings
Arabian Construction Company
BIF IV India Infrastructure Holding
Elpis Ventures
GMR Highways
ISQ Asia Infrastructure Investments
Kalpataru Power Transmission
Omaxe

Meanwhile, Delhi-based construction major Parnika Commercial and Estates secured the Rs 384 crore contract for a project to redevelop the Safdarjung railway station in New Delhi. The project envisions the Safdarjung railway station's redevelopment as a modern transportation hub with integrated transport and office development. The development will include platforms, foot over bridges, and also retail space that will be monetised by the company.

Ircon International and Rail Land Development Authority (RLDA) had signed a memorandum of understanding (MoU) to redevelop the Safdarjung station in 2017.

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