The railways has come up with a new plan to involve private players in its ambitious scheme to redevelop 600 stations across India. According to the plan, the Railways will carry out 25-50 per cent of the construction work, and then give the station on a 99-year lease to the highest bidder for completion, development and subsequent operation.
Besides commercial use, the ministry also plans to allow residential use of its land around the stations.
The proposal has been sent for Cabinet approval and is likely to be discussed at the next meeting, said sources. If approved, it is expected to kick-off simultaneous construction work at stations across the country. Read More…
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