Railways launches Rs 1 lakh cr station redevelopment programme

Railways launches Rs 1 lakh cr station redevelopment programme

The ministry of railways today launched the first phase of station redevelopment programme covering commercial development of 23 stations across the country, which is expected to see investments worth Rs 9,000 crore.

As part of the programme, railways will take up 400 A1 and A stations for redevelopment through public private partnership (PPP), which may see at least Rs 1 lakh crore worth of investments. The 23 stations that will be up for bidding in the first phase include Chennai Central, Ranchi, Udaipur, Indore, Yesvantpur, Bangalore Cantonment, Visakhapatnam, Howrah, Kamakhya, Faridabad, Jammu Tawi, Secunderabad, Vijayawada, Kozhikode and Bhopal.

“We have the largest captive audience and hence it has huge commercial value. We are following a transparent process for this. We are also partnering with the ministry of urban development to develop smart stations in identified smart cities ,” said Suresh Prabhu, minister of state for railways. Prabhu added that several pension funds, investors, organisations like world bank and various state governments are also involved in the project. Read More…

Credit By: Business Standard

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