Date of Post : 05 July, 2017
Indian Railways Ambitious Project i.e. Station Redevelopment Programme attracts nine countries. The countries being:
- South Korea
These are the nine countries which have shown interest in joining the Indian Railways’ ambitious station redevelopment programme across the country.
- Railways have earmarked about 400-plus major stations for redevelopment to provide world-class passenger amenities involving investment of more than Rs 1 lakh crore in PPP model.
- The redevelopment of stations envisage commercial exploitation of vacant land and air space in and around stations.
- There would be malls, hotels, multiplex, parking lots, eateries and other business activities on rail premises and at the same time many passenger-related facilities at stations would be upgraded.
- The financial model for redevelopment work across stations has been devised in a way that the government doesn’t incur any expenditure as the developer would be rebuilding the railway stations and maintaining it for 15 years.
- In return, the developer would be granted 45 years’ leasing rights for the commercial properties developed at these stations.
Countries Shown Interest:
- China is keen to develop Jhansi and Agra stations.
- South Korea has expressed interest in making New Delhi station a world class station.
- France has agreed to redevelop Ludhiana and Ambala stations on Delhi-Chandigarh route.
- Canada has shown interest in upgrading a few stations in Mumbai
- Malaysia is keen to develop Howrah, Secunderabad, Udaipur, Faridabad, Indore and Pune stations.
About The Cost of Station Redevelopment:
- The entire cost of station redevelopment is to be met by leveraging commercial development of vacant separable land and air space in and around the station.
- Railways have finalised plans for investment of at least Rs 8 lakh crore in the next five years to modernise the public transporter which still moved the bulk of the output from coal pits, cement silos, and steel factories.
- Railways have earmarked Rs 1.31 lakh crore for capital expenditure in the current financial year.