IRSDC targets ₹1 trillion for station upgrades

Indian Railway Stations Development Corporation

The newly created nodal agency for upgrading and redeveloping railway stations across the country, the Indian Railway Stations Development Corporation (IRSDC) has targeted to invest ₹1 trillion on station upgrades, Union minister, Ravi Shankar Prasad, said claiming that the government has already lined up 600 railway stations for the job. Being the nodal agency, IRSDC will have more financial freedom, including the ability to raise money from the market. The company is planning to come up with an engineering, procurement and construction (EPC) model for the redevelopment of major stations across the country to be carried out by commercially developing land and airspace in and around the stations. The program will help provide state-of-the-art amenities to passengers and generate additional revenues. Furthermore, redevelopment of railway stations across the country will have a multiplier effect on the economy, with increased job creation and improved economic growth, he added.