Surat: The Indian Railway Finance Corporation (IRFC) has sanctioned a new term loan of ₹199.70 crore for the ongoing Multi-Modal Transport Hub (MMTH) project in Surat.

The loan agreement was signed on Tuesday at the New Delhi office of Surat Integrated Transportation Development Corporation Limited (SITCO). The signatories included SITCO Director Mohit Kumar, SITCO Company Secretary Namrata Makharia, and IRFC General Manager (Finance) Ashish Saini. The funding will accelerate the pace of construction and development of the hub.

SITCO, a joint venture between the Ministry of Railways and the Government of Gujarat, is developing an international-standard MMTH in Surat. The project aims to integrate rail, metro, BRTS, city and regional buses, along with intermediate transport modes such as autos and taxis. It will also upgrade passenger amenities and station infrastructure. IRFC’s financial support will help ensure timely implementation, boost regional economic development, and strengthen India’s transport infrastructure.

Spread across 72 acres, Surat’s Multi-Modal Transport Hub is expected to become the largest transport hub in Asia, surpassing existing hubs in Nagpur and Kowloon (Hong Kong). With a total built-up area of 1.10 crore sq ft, the project will also combine commercial and residential facilities.

The MMTH project includes the construction of new station buildings on both east and west sides, a new GSRTC interstate bus terminal, relocated railway quarters, a skywalk connecting different sections of the hub, and dedicated SMC city bus and BRT stations.

The estimated project cost is ₹5,400 crore, with private investors also contributing. Phase I is expected to cost ₹878 crore, while Phase II will require another ₹500 crore. Construction is scheduled to be completed by December 2026.

The hub will feature six entry-exit points for commuters, providing direct access to the railway station, GSRTC bus terminal, city bus station, and BRTS bus station. A skywalk will seamlessly connect all modes internally, enabling passengers to switch between transport modes without stepping outside the building. DeshGujarat