Indian Railways has decided to expedite redevelopment of 400 A1 and A category railway stations across the country. It will now appoint its joint venture company Indian Railway Station Development Corporation (IRSDC) as the nodal agency to speed up the process, the Mint reported.
The high-value project to revamp these stations through public private partnership (PPP) will require investments of around Rs 1 lakh crore. The Railways will also monetise 2,700 acres of spare railway land as part of it.
The first phase of the redevelopment was launched in February this year with 23 stations under previous railways minister Suresh Prabhu.
The appointment of IRSDC, a joint-venture between Ircon International Ltd and Rail Land Development Authority (RLDA), took place following recommendations from a three-member committee of experts, which had submitted its report in November, railway ministry sources told the newspaper. Read More…
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