Rail Station Redevelopment Update : IRSDC to raise INR 4000 Crores for upgrading 50 stations

Rail Station Redevelopment Update : IRSDC to raise INR 4000 Crores for upgrading 50 stations

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Date Of Post: 23 Apr, 2018

IRSDC is planning to raise around INR 4000 Crores from the markets for upgrading around 50 stations .

More Features :

  1. After getting a nod from the Prime Minister’s Office at a recent review meeting, to proceed with a few stations rather than taking up about 600 at one go, the ministry is likely to take up 50 stations in the initial stage.
  2. The first phase of the rail ministry’s Rs1-trillion station redevelopment plan is set to take off soon.
  3. The ministry decided to redevelop stations by itself through IRSDC, under an engineering, procurement and construction (EPC) model .
  4. Railways is likely to enter into a build-operate-transfer (BOT) annuity model deal with IRSDC.
  5. Railways will give a letter of comfort, based on which IRSDC will raise money from the markets, with a five-year moratorium period .
  6. In the new plan, Indian Railways will offer 20 per cent of the overall area redeveloped for residential purposes; the remaining 80 per cent area will be utilised commercially.
  7. This would mean developers tying up with IRSDC will have the option to build residential structures within the station premises, which are in prime localities.

“The stations allotted earlier — including Habibganj (Bhopal) that the Bansal Group is developing and Gandhinagar (Gujarat) — will be commissioned by December 2018,” said S K Lohia, managing director and chief executive of IRSDC.


Image Credit: Nborkakoty Wikipedia

 

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