Rail sector eyes $500-mn-WB bonanza

    Rail Sector World Bank Investment
    Indian Railway is all set to seek $500 million from the World Bank for undertaking redevelopment of some major stations as part of its ambitious station redevelopment plan. On this score, 403 stations have been identified for redevelopment in a big way with improved passenger amenities, including shopping malls, multiplexes, office complex, eateries, and larger parking lots using vast land in possession of the public sector transporter. Station development is a focus area for the cash-strapped behemoth and concerted efforts are being made to firm up a roadmap, said an industry insider, adding that a proposal for seeking a loan of $500 million from the World Bank with a moratorium of 7 years for undertaking redevelopment of some key stations is under process. While French Railway (SNCF) has been given Ambala and Ludhiana stations for redevelopment and is also in talks with Germany and South Korea for some other stations, the Indian Railway Stations Development Corporation (IRSDC) has been tasked with redeveloping eight stations - Habibganj, Bijwasan, Anand Vihar, Chandigarh, Shivaji Nagar, Surat, Gandhinagar, and Mohali.
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