The actual work to redevelop Surat railway station as a world-class railway station would begin in the second half of 2018.
The process to set up a special purpose vehicle (SPV) for it has been completed by Indian Railway Station Development Corporation (IRSDC). However, the final decision on the mode of finance for the Rs 5,000 crore is yet to be decided.
IRSDC MD and CEO Sanjiv Lohia told TOI that Indian Railways has 63 per cent, Gujarat State Road Transport Corporation 34 per cent and SMC three per cent stake in the SPV named Surat Integrated Transport Development Corporation Limited (SITCO).
“Airports Authority of India (AAI) had expressed its reservation in granting approval for the proposed 61 floor buildings to be constructed during redevelopment because it came in the flight path of aircraft. The issue has been sorted out and AAI would grant approval for 140 metre high buildings at the project site,” Lohia said. Read More…