The indicative cost of developing Mumbai Central station is Rs 250 crores, said WR office.
Western Railway on Saturday invited private firms including big construction and real estate companies to submit plans to redevelop Mumbai Central, Bandra Terminus and Borivali stations using the ‘Swiss Challenge’ method.
According to the Western Railways officer, the indicative cost of developing Mumbai Central station is Rs 250 crore and a vacant area of 16,171 sq metres is available for the purpose. Bandra Terminus redevelopment has been pegged at Rs 200 crore with a vacant area of 42,368 sq metres. Borivali could cost Rs 250 crore and will have 11,475 sq metres of vacant land to be redeveloped.
As per a statement by the railway ministry earlier, the state transporter is looking at redevelopment of stations that ‘will improve passenger experience by providing amenities like digital signage, escalators, elevators, self ticketing counters, executive lounges, luggage screening machines, walkways, holding areas for passengers, grand and distinctive roofing and flooring, free and paid Wi-Fi etc. Moreover, the commercial development undertaken near the stations will become nerve centres of the city and provide quality retail, commercial and hospitality development.’
What is the Swiss Challenge?
A proposal for, say redevelopment of a station, given by anybody — individual, firm, institution (entity A) — is put up for all to see.
Any other individual, firm, institution (entity B) has the right to give suggestions to better the proposal or to beat it.
After choosing the best proposal from entity B, the authorities will invite entity A to match it.
If entity A is able to match it, it gets the go-ahead for the project. If it doesn’t, then entity B gets the go-ahead.