Indian railway stations will also float tenders for 23 more stations that are to be redeveloped, including Pune, Howrah, Kanpur Central, Chennai Central, and Bandra Terminus among others, on the day of initiation of the project.
The financial closure for the PPP (Public Private Partnership) project has already been achieved by Bansal Pathways Habibganj, a special purpose entity (SPE) comprising of Bansal Construction Works, Prakash Asphalting and Toll Highways (India). The estimated cost of Habibganj station redevelopment is Rs. 100 crore and the that for commercial redevelopment is Rs. 350 crore.
The land will be allotted to the SPE for a period of 45 years with a maintenance right for 15 years. The core operations like signalling, track maintenance and running of trains will remain with the railway authorities. The redevelopment work is said to take about two years for completion.Read More…
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