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Realty Majors In Race To Upgrade Mumbai Railway Stations

Industry Transportation Services

Indian Railways is planning to modernize railway stations at Bandra Terminus, Mumbai Central, Lokmanya Tilak Terminus, Borivali and Thane in Mumbai, Maharashtra at an estimated cost of Rs. 10,000 crore. The bidding process will start in August and the stations awarded in early 2018.Tata Realty, Shapoorji Pallonji, IL&FS, Reliance Infrastructure, Raheja Group and Essel Infra are evinced interest for the project. The builders will get commercial exploitation rights for railway land for 45 years in lieu of redeveloping and modernising the existing stations. The stations will be awarded under the Swiss challenge method.

Extracted from ET, June 19,’17

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