Kolkata’s Howrah station and Mumbai Central and Chennai Central stations are among 23 identified for redevelopment by the private sector.
The first private sector redevelopment plan at Habibganj (near Bhopal) is expected to be flagged off by Prime Minister Narendra Modi soon, paving the way for the other projects.
Bancal Construction, which will redevelop the station, has tied up for the funding that involves Rs 100 crore (USD 15.3 million) and Rs 300 crore (USD 45.9 million) for the construction of other facilities. In addition, contracts for redevelopment of at least two stations in Delhi (Anand Vihar and Bijwasan) are expected to be finalised by March.
Last year, the government has approved a programme that includes the redevelopment of 44 stations across the country.
In August 2016, Boston Consulting Group (BCG) was announced as the India’s new Strategic Adviser to the government for the redevelopment of 400 rail stations. Indian Railways awarded the contract to BCG for an estimated Rs 8 crore (USD 1 million) with a six months deadline. According to local media, BCG is conducting the feasibility study for 55 stations and 23 are ready for award.
The value of rail development is estimated at more than USD 600 million. Apart from modernising the railway station, the developer will also get the rights to develop surplus land near the station, including building of hotels and other facilities. The lease will be for 45 years.
India may put into service some redeveloped stations in 2019.
Indian Railways Station Development Corporation, a public sector undertaking, has been mandated to redevelop Surat, Chandigarh and Mohali stations.
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