Rail station redevelopment starts
Source: Indian Railways. Habib Ganj first for redevelopment.
The Indian Railway Stations Development Corporation Limited (IRSDC) has signed an agreement on July 14, 2016, with a consortium led by Bansal Group for the redevelopment and modernization of Habib Ganj Railway Station in Bhopal.
The Habib Ganj station is the first of eight stations allotted to IRSDEC for redevelopment.
The other stations are: Chandigarh, Shivaji Nagar (Pune), Bijwasan (New Delhi), Anand Vihar (New Delhi), Surat (Gujrat), SAS Nagar (Mohali) and Gandhi Nagar (Gujrat).
Each station redevelopment is estimated at Rs. 100 Crores, and commercial development is approximately, Rs. 350 Crores.
The Indian Railways is planning to sign 20-30 such agreements in a few months.
Bansal Construction Works Pvt. Ltd and Prakash Asphalting & Toll Highways (India) Ltd have formed a Special Purpose Company, Bansal Pathways Habibganj Pvt Ltd, to implement the project.
IRSDC has hired the services of leading legal, financial and architectural consultants to operationalize this project.
Leading Law Firm ShardulAmarchandMangaldas & Co are the legal consultants, Global Advisory Firm Ernst & Young LLP are the financial consultants and Transaction Advisors, whereas Consortium of GMP International GmbH – Germany + Intercontinental Consultants and Technocrats Pvt. Ltd – India are the technical and architectural consultants for this project.
Railways Minister Suresh Prabhakar Prabhu said the redevelopment will improve the economic condition of the railway as commercial space available on the modernized station will generate revenue. fii-news.com
