IRFC sanctions fresh term loan of Rs 199.70 cr for development of Surat Multi-Modal Transport Hub

Indian Railway Finance Corporation (IRFC) has sanctioned and executed agreements for a fresh term loan facility of Rs 199.70 crore with Surat Integrated Transportation Development Corporation (SITCO) to support the development of the Surat Multi-Modal Transport Hub (MMTH).

Surat Integrated Transportation Development Corporation Limited (SITCO)a joint venture of the Ministry of Railways and Government of Gujarat is developing India's first international standard Multi-Modal Transport Hub (MMTH) at Surat. The project will integrate rail, metro, BRTS, city and regional buses, and intermediate transport modes like autos and taxis, while also upgrading passenger amenities and station infrastructure.

Indian Railway Finance Corporation (IRFC) has extended financing support to SITCO for the construction of components of the Surat MMTH. This intervention strengthens the project's financial viability and ensures its long-term sustainability. The funding will accelerate the timely execution of the project while contributing to regional economic growth and enhancing India's transport infrastructure capacity.

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