Railway mulls JV rebuilding 400 stations

The project to redevelop 400 railway stations across the country at an investment of about Rs.1 lakh crore, is set to get a fresh lease of life as state governments are getting ready to join Indian Railways in the initiative through a unique land-pooling method. In this connection, Railways will tie-up with the concerned state governments to pool their nearby unused land as part of the station development program by forming joint ventures. If this works out, Railways' land will be pooled with state government land and will be used for commercial purposes on a revenue-sharing model, said a senior railway official, adding that the redeveloped stations will provide amenities like digital signage, escalators, self-ticketing counters, executive lounges, restaurants, malls, theatres and Wi-Fi facility. Through commercialization of vacant land, railway is targeting surplus revenue of about Rs.10,000 crore on an annual basis.