Page 54 - CO October 2021

inFraStrUctUre TICKEr TAPE national Monetization Pipeline of the `6 lakh crore announced
40 rAILWAY STATIONS TO bE TAKEN UP FOr
rEDEVELOPMENT IN 2021-22 : rLDA

by the Government of India includes 400 stations where an
investment of `76000 crore is expected, 40 stations are targeted
to be taken up in 2021-22 and another 120 stations in 2022-23.
Ministry of Railways, RLDA and IRSDC held consultation with various
stakeholders in connection with finalization of Model Concession
Agreement for Station Development through PPP mode.
To make the program a success, the concerns of various
stakeholders need to be addressed. To have a smooth
bOOST TO MUMbAI-AHMEDAbAD bULLET TrAIN implementation of this ambitious program, Ministry of Railways
PrOJECT! 12 VILLAGES IN PALGHAr DECIDE TO GIVE UP has shared the draft MCA and held this webinar for active
LAND participation of the stakeholders in the process. Those attended
Mumbai-Ahmedabad Bullet Train Project: More villages are now the webinar included I-Squared capital, Brookfield Global Asset
ready to give up land for India’s first Bullet Train! In the last one Management, Bharti Realty Limited, Anchorage Infrastructure
month, the process of land acquisition for the upcoming Mumbai Investments Holdings Limited, Adani Infra among others.The
– Ahmedabad Bullet Train project has gained momentum with Ministry of Railways has come up with a draft guideline for the
12 villages in the district of Palghar, which were covered under developers selected to redevelop the railway station, where the
Panchayats – Extension to Scheduled Areas (PESA) Act, passing developers will also offer rebate in case the railway makes the
resolutions through their gram sabhas to give up land for the payment within three days of the deadline.The main source of
high speed rail corridor, according to an IE report. The Mumbai the income would be station development fee, which will be
– Ahmedabad High Speed Rail, which is being executed by the shared between the developer and railway and the company
national High Speed Rail Corporation Limited (nHSRCL), will pass quoting the highest share for railway, will get the bid. The ministry
through Mumbai suburban, Thane as well as Palghar districts. has also proposed to bring down the concession period to 30 or
As per records, 19 villages covered under Panchayats – Extension 45 years instead of 60 years.
to Scheduled Areas (PESA) Act and are tribal dominated, had
earlier given their consent. now, as many as 31 villages have INDOSPACE PLANS 64 ACrES PArK IN bANGALOrE
agreed to give their land for the Bullet Train project. Ten villages are Indospace is expanding its footprint in the South and plans to
still opposing the high speed rail project and currently, discussions develop a 64 acres park in narasapura, Bangalore.
are on with them. Approximately 85 per cent of the land required The park will boost IndoSpace’s footprint in the manufacturing
for the Bullet Train project has either been acquired or is being and industrial destination of Karnataka, cater to the warehousing
acquired. They only need to get land from 10 villages, which falls requirements of companies across sectors such as automotive,
under PESA Act. In Vasai, nearly 2,000 tenements required for the engineering, electric vehicles, e-commerce, and FMCG,
Mumbai-Ahmedabad Bullet Train Project are spread over various amongst others. By offering a solid foundation with our Grade A
buildings and chawls. Certain buildings will be demolished and logistics infrastructure to customers across sectors, the company
the tenants be provided with new houses. In Thane and Bhiwandi aims to tap into the manufacturing boom being witnessed in
talukas, about 75 acre of land was to be acquired. 42 acres the state of Karnataka. In addition, the launch of its new park in
have been received by the consent of the landowners. For the narasapura will further help in attracting global manufacturers to
remaining land, there exist family or boundary disputes. But the the state of Karnataka.
acquisition amount has been deposited in court and they will IndoSpace, India’s largest investor and manager of Grade A
take over the remaining land by September end or early October, industrial and logistics real estate continues to be bullish on the
he added. In the state of Gujarat, nearly 97 per cent of the land sector in the country and plans to acquire land across major
required for the project has been acquired. warehousing and industrial hubs in the country as it looks to garner
more market share. IndoSpace also launched two parks in South
L&T COMMISSIONS EXPANSION PrOJECT OF UTKAL India, in Vallam and Oragadam areas in Tamil nadu, adding
ALUMINA rEFINErY 118 acres to its portfolio. The Bengaluru warehousing market
Larsen & Toubro recently announced its metallurgical and has seen 4.30 mn. sq. ft. leasing in FY-2020. By consolidating
material handling business has commissioned the 0.5 million the warehousing market, developers are venturing into the
tonnes per annum (MTPA) expansion project of utkal Alumina city’s prominent clusters with land acquisitions for greenfield
International, a wholly-owned arm of Hindalco. The plant is developments and making it a preferred destination for
located at a remote location at Kucheipadar, near Tikiri in Japanese, European and Korean companies in electronics,
Odisha’s Rayagada district. With this expansion, the alumina FMCG, and FMCG sectors.
production capacity of the refinery has been upgraded from IndoSpace has a portfolio of over 43 million sq. ft across 41
1.5 MTPA to 2 MTPA. industrial and logistics parks pan India. In 2020, it spent around
The expansion project was inaugurated by the Odisha Chief $500 million across nine acquisitions. IndoSpace plans to add
Minister naveen Patnaik. four million sq. ft of warehousing space by the end of 2021.

54 COnSTRuCTIOn OPPORTunITIES|OCTObEr 2021