The New Delhi railway station project is under planning for redevelopment. For this purpose, Arabian Construction Company and Ircon co-jointly will work on the project.
For the tender major national and international companies like Adani Railways Transport, ACC, Asia Infrastructure Investments, etc sent requests.
According to the managing director and chairman of Ircon, the company will coordinate with ACC for the bid. The estimated expenditure on the project is about Rs 6,500 crore.
The aim is to remodel the station into a blend of commercial, retail, and hospitality hub.
Rail Land Development Authority (RLDA) planned to organize the project of redeveloping New Delhi Railway Station. The project involves the concept of Transit-Oriented Development which predominantly targets to promote the use of public transport.
Additionally, Parnika Commercial & Estates successfully achieved the contract for redevelopment of Safdarjung railway station in New Delhi. The amount incurred for the project is Rs 384 crore.
The objective of the project is to develop the station as a modern transportation hub.
Initially, the planning of the project began in 2017 when the Ircon showed willingness into the contract with RLDA. The company signed the memorandum of understanding in that year.
Further, the director of Ircon added that the company may achieve a turnover of Rs 6,000 crore in the forthcoming financial year. However, as compared to last year the company may slide down to 10 percent in the ongoing fiscal.
Ircon started its operation in 1976 under the Indian Companies Act 1956. The government incorporated the company and is among the top public sector companies in terms of its performance.
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