Ircon International Ltd - a public sector unit under the Indian Railways - is in the race for the Rs 5,000-crore New Delhi railway station redevelopment plan along with its consortium partner Arabian Construction Company.
The company is bullish on the commercial and residential real estate opportunity that the station redevelopment plan of the Indian government offers. The company is also looking at participating in the Mumbai - Ahmedabad bullet train project and has submitted a bid for one of the sections.
Ircon chairman and managing director S K Choudhary said, "We have submitted the Expression of Interest for the New Delhi railway station redevelopment plan along with Dubai-based Arabian Construction Company. The project offers enormous opportunities in commercial and residential real estate. We will submit bids for the project."
It may be noted that a total of nine bidders have participated in the request for qualification round for the New Delhi railway station redevelopment project. Apart from, Ircon-ACC, Adani Railways Transport Ltd, BIF IV India Infrastructure Holding Pvt Ltd, ISQ Asia Infrastructure Investments Pte Ltd, Anchorage Infrastructure Investments Holdings Limited, Kalpataru Power Transmission Ltd, GMR Highways Limited, Omaxe Limited, and Elpis Ventures Pvt Ltd have submitted the expression of interest in the projects.
Sources in the Rail Land Development Authority, which is the agency handling the tendering process for the New Delhi railway station and over sixty other station redevelopment projects across the country, have indicated that bidders will be shortlisted for the financial bidding by end of this month. The financial bids will be called by end of April or mid-May according to the sources.
RLDA hopes that work on the New Delhi project will begin by the end of this year and will be complete in the next four years.
Ircon has also submitted a bid for construction of an 18 km viaduct and two railway stations on the Mumbai-Ahmedabad bullet train corridor. Other companies that have put in bids for the project are L&T, Afcons, GR Infra and Sadbhav Consortium, a consortium of NCC, Tata Projects and J Kumar and DBL, RBL combine.