Indian Railways looks to invest US$ 7 billion in redevelopment of 50 station

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Indian Railways has plans to award redevelopment of 50 stations across the country in year 2020-21 at a cost of INR 500 billion (US$ 7 billion). The initiative has drawn the attention of many Indian conglomerates and foreign funds. The first lot of station redevelopment project has attracted investors such as GMR group, Adani, JKB Infra, Shapoorji Pallonji, Tata Realty, NIIF, Isquared capital, Global infrastructure fund, Essel group, and Anchorage Capital among others.

The Indian Railways Station Development Corporation Ltd (IRSDC) has issued a request for qualifications (RFQ) for the redevelopment of stations in Nagpur, Gwalior, Amritsar, and Sabarmati at a cost of INR 13 billion (US$ 182 million). The NITI aayog is also pushing private investment in the railways.

The average redevelopment cost for each station out of 50 stations will be INR 2.5 billion (US$ 35 million).


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