The government is set to award 50 stations for redevelopment entailing an investment of ₹50,000 crore during 2020-21, said official sources. The station redevelopment initiative of the Indian Railways has drawn interest from Indian conglomerates and foreign pension funds. GMR, Adani Group, JKB Infra, Shapoorji Pallonji, Tata Realty, NIIF, ISquared Capital, Global Infrastructure Fund, Essel Group, and Anchorage Capital have evinced keen interest in the first lot of stations up for redevelopment. Meanwhile, the railway ministry will issue user development fee along the lines of a levy charged by airport operators, which will help fund the upgradation of the stations. The Indian Railways Station Development Corporation Ltd (IRSDC), a government entity responsible for station redevelopment, invited request for qualification (RFQ) for redevelopment of stations in Nagpur, Gwalior, Amritsar and Sabarmati, at a cumulative cost of around ₹1,300 crore.
📅Published on:
10 February 2020
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