SPV formed for managing station and hotel.
The Indian Railway Stations Development Corporation Ltd (IRSDC) and the state Government of Gujarat (GoG) has formed a special purpose vehicle for the re-development of Gandhinagar station.
The IRSDC has taken equity contribution of 24% and the state government 76%, said the Minister of State for Railways Rajen Gohain in a reply to a question in Lok Sabha on 26 July 2017.
The SPV is responsible for operation & maintenance of station and the 300-room hotel.
The station is having architecture in harmony with adjoining Mahatma Mandir and Gandhi Kuteer. The SPV will have revenue streams from Mahatma Mandir and Gandhi Kuteer as well other operations.
A works contract for approximately Rs.147 Crore for redevelopment has been awarded for the station redevelopment and construction of the hotel above it.
Pile foundation is going on at site.
An agreement for Project Management Consultant (PMC) has been signed between IRSDC, Gandhinagar Railway and Urban Development Corporation Limited (GARUD) on 14.07.2017.
The Railway has sanctioned Rs.243.6 crore for the work with Rs.40 crore allocated this year. fii-news.com
