Rail Land Development Authority (RLDA) has signed a MoU with National Building Construction Corporation for redevelopment of 10 railway stations across the country at par with international standards. The Railways has embarked on this ambitious project to redevelop 403 stations on PPP mode with the participation of private players, public sector and with the assistance of foreign funding.
The identified stations to be taken up initially by NBCC for redevelopment are Tirupati, Sarai Rohilla (Delhi), Nellore, Puducherry, Madgao, Lucknow, Gomtinagar, Kota, Thane (New) and Ernakulam. NBCC has been given 10 stations in first phase for redevelopment and more stations would be given to them in subsequent phases.
RLDA and NBCC shall form a Special Purpose Vehicle in the form of a joint venture company to execute the station redevelopment project. The JV shall redevelop the stations on a self-financing model. These stations would be developed as smart railway stations.
This update is authored by Clasis Law, Clyde & Co's associated firm in India
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