Ministry of Urban Development to develop railway stations

Ministry of Urban Development to develop railway stations
21/10/2016 , by , in News/Views

A memorandum of understanding has been signed between urban development ministry and Indian Railways to redevelop 100 railway stations on the lines of smart cities.

The MoU proposes two joint venture options for speedy redevelopment of railway station centred areas. The first being between the Railways and the Special Purpose Vehicle (SPV) formed for execution of Smart City Plans, with equal share in equity. In the second model, National Buildings Construction Corporation (NBCC) can be roped in with equal share among the three. NBCC can design, develop and execute the redevelopment plans on self-financing basis.

Railways minister Suresh Prabhu said that railway stations have been the core of city development and have become congested over time and their redevelopment offers immense opportunities for changing city landscape. Stating that redevelopment work of Habibganj railway station has already been awarded and plans for Anand Vihar (Delhi), Surat, Bijwasan and Gandhinagar are in advanced stage. He said that several countries like Germany, France, Japan, South Korea, UK and Belgium have shown interest in redevelopment and a round table of domestic and overseas bankers will be organized next week to discuss financing of these redevelopment projects.

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