New Delhi, July 16 (IANS) Indian Railways will redevelop 400 stations with help from private parties, the government said on Thursday.
The decision was taken by the cabinet at a meeting presided over by Prime Minister Narendra Modi, an official statement said.
The stations open for redevelopment are classified ‘A-1’ and ‘A’. These are located in metros, major cities, pilgrimage centres and important tourist destinations across the country.
Interested parties will have to present their design and business ideas, including commercial development of real estate.
The decision assumes significance as it will allow private parties to take part in the redevelopment of stations.
“As the IRSDC (Indian Railway Station Development Corp) is able to undertake redevelopment of only a few stations, it was proposed to redevelop stations through invitation of open bids from interested parties,” the statement said.