Gujurat govt, Railways ink pact to develop Surat station

Image
Press Trust of India Surat
Last Updated : Aug 17 2016 | 11:32 PM IST
The Railways, Gujarat government and Surat Municipal Corporation have signed an agreement to develop Surat station under the Public Private Partnership model.
This tri-party agreement was signed here today in the presence of Union Railway Minister Suresh Prabhu, Gujarat Deputy Chief Minister Nitin Patel and Surat mayor Asmita Siroya.
Prabhu told reporters that private investment is the best way to expedite the upgradration of railway stations in the country.
"This station will be India's first and distinctive railway station upon it's completion. It will also have a multilayer park having a slew of facilities, which are usually found in airports. I am sure that it will turn out to be a tourist destination," the Minister said.
"This project will be carried out under PPP model, as the government alone can not bear all the expenditure. If we do so, we have to raise taxes to collect the required capital. Thus, the best way is to involve private players. For this project, 36 business entities have already shown their interest," said Prabhu.
The Minister further talked on increasing non-railway income to boost development in the railway sector.
"We have only two income options at present- freight and passenger fares. In Japan, one third of railway income comes from non-railway operations. We need to understand and incorporate such business model to raise funds.
"After Surat, we are planning to develop Gandhinagar station and many other (stations) across India," Prabhu added.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 17 2016 | 11:32 PM IST

Next Story