"Till now, Railways was depending on passenger and freight earnings. But time has come now to look beyond fare revenue. Station redevelopment is one such revenue stream," Railway Minister Suresh Prabhu said here at an event to mark the signing agreement with the developer for the project.
A consortium of Bansal Construction Works and Prakash Asphalting and Toll Highways has formed a special purpose company - Bansal Pathways Habibagnj Private Ltd to implement the project.
Besides, the station will also have food plaza, medical clinics, office complex, salon and other facilities to use the area to generate revenue for railways.
Prabhu said 400 stations will be redeveloped as per the plan and there is a purpose behind it. He said besides being another revenue stream for railways, station development will also provide better facilities to passengers.
He said there are various ways including taking help of the World Bank, foreign countries, state governments and PSUs for modernisation of stations.
"We are negotiating with World Bank for getting USD 500 million for station development project. We can also join hands with counties like Germany, UK and France which have expertise in redevelopment to modernise a few stations here. I am also writing to all chief ministers to be part of the redevelopment project in their respective states.
"Gujarat government has come forward for redevelopment of Surat and Gandhinagar stations. We are also exploring to involve PSU like NBCC to develop a few stations," he said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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
