In order to make the most out of the upcoming railway station redevelopment program, the leading infra builders of the county including GMR Highways, Essel Infraprojects, IRB Infrastructure, Shapoorji Pallonji & Company, Bharti Realty and IL&FS Township & Urban Assets, have lined-up to bag these redevelopment and real estate projects. The ambitious Indian Railways plan to redevelop major railway stations into world-class terminals under the public private partnership (PPP) model for which a large number of foreign funds and state governments have evinced interest to invest in the redevelopment projects, said Rail Minister, Suresh Prabhu, adding that it plans to redevelop 400 stations on similar model. In this connection, the railway has already signed Memorandum of Understanding (MoU) with Urban Development ministry to build smart stations in all 100 smart cities and the work would also be undertaken with private investment as it has lined-up eight stations across the country to be redeveloped and the bidding process for two stations in Delhi and NCR region has already been rolled out. The winners of the contract would get the commercial exploitation rights of the land of the station owned by the railways for a period of 40 years, he insisted.
📅Published on:
06 November 2016
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