IRSDC kick starts ₹2,600-cr station upgrade

Indian Railway Stations Development Corporation (IRSDC)

Kick starting the redevelopment of 19 railway stations matching global standards, the Indian Railways has recently secured a ₹2,600-crore credit line from its financing arm for the purpose and the reconstruction work is set to start very shortly. The Indian Railway Stations Development Corporation (IRSDC), the nodal body for station redevelopment program, will redevelop the identified railway stations on the engineering, procurement and construction mode. On this score, private players can come in at later stage and bid for the commercial area that would be made available at the stations similar to the National Building Construction Corporation model of reconstruction, said official sources, elaborating that apart from the credit line from the Indian Railway Finance Corporation, which raises money through market borrowings, other railway public sector units including RLDA, RITES and IRCON will provide equity support to the IRSDC for the mega project.