Railways Ministry sets up SPV to upgrade India’s railway stations

ays has moved to set up a separate corporate unit to upgrade and improve the country’s thousands of railway stations. In what was described as a “path-breaking initiative,” the Ministry signed a formal Memorandum of Understanding to set up a Special Purpose Vehicle (SPV) to be called “Railway Stations Development Corporation Limited” to handle the job. The MoU was signed between the two public sector units of the Ministry of Railways, namely IRCON International Limited (IRCON) and Rail Land Development Authority (RLDA). No financial details were disclosed.

Dinesh Trivedi, Union Minister for Railways, said this initiative is a part of the Vision 2020 document presented by the then Minister for Railways, Mamata Bannerjee. The documents provided a comprehensive road map for the development of all aspects of railway operations from safety, infrastructure and passenger amenities to modernisation of the stations, according to a report by Travel Impact Newswire.