Rail Ministry entity to raise Rs 40 billion for station redevelopment

In the new plan, Indian Railways will offer 20 per cent of the overall area redeveloped for residential purposes; the remaining 80 per cent area will be utilised commercially

The first phase of the rail ministry’s Rs1-trillion station redevelopment plan is set to take off soon. Indian Railway Stations Development Corporation (IRSDC) is likely to raise about Rs40 billion from the markets for upgrading at least 50 stations. 

The nodal agency in this regard, it will become the second entity under the ministry, after arm Indian Railway Finance Corporation (IRFC) to raise money from the markets. The ministry decided to redevelop stations by itself through IRSDC, under an engineering, procurement and construction (EPC) model, after getting only a tepid response from private entities when bids were invited for 21 stations. 

Sources