Mumbai

The process for developing Surat railway station as a Multi-Model Transportation Hub (MMTH) has been set in motion with the stake-holders today discussing modalities of the Rs 600-crore project.

Indian Railways Stations Development Corp (IRSDC) officials held discussions with the representatives of reputed developers and other real estate players for developing Surat in South Gujarat as MMTH.

CEO of IRSDC Sanjeev Kumar Lohia presented the proposed plan and said the project was a golden opportunity of investment for developers and other real estate players.

The project is to be built on design, build, finance, operate and transfer (DBFOT) basis through a joint venture of IRSDC, Gujarat State Road Transport Corporation (GSRTC) and Surat Municipal Corporation (SMC), he said.

IRSDC is a special purpose vehicle of the Centre to develop new stations and redevelop existing ones. It is a JV between IRCON and RLDA (Rail Land Development Authority) with a 51:49 equity shareholding ratio, respectively.

“The contract of developing the MMTH at Surat will be awarded to the qualified bidder quoting the highest premium with a concession period of 45 years, including construction period for the entire project,” said Lohia.

A Special Purpose Vehicle (SPV) of Indian IRSDC-GSRTC- SMC and Concessionaire would be formed and the process of finalising the holdings of these stakeholders was underway, he said.

Outlining the work and scope of MMTH, he said, “The project, which would cost around Rs 600 crore, includes the construction of a new railway station, an international standard bus terminal besides commercial development.”

Surat comes under the administrative control of Mumbai Division of the Western Railway (WR). It is one of the busiest railway stations on account of existing passengers and train traffic on WR and falls under A+ category of stations.

“Government of Gujarat and SPV will provide necessary assistance to the prospective developer for obtaining required approvals, clearances, resolving technical issues, among other issues,” added the officer.

Apart from Surat, IRSDC has been working on revamping seven other stations, including Anand Vihar, Bijwasan (both in Delhi), Habibganj, Chandigarh, Mohali and Gandhinagar.

PTI