THE World Bank has accepted provide a $United States 500m seed capital loan with a seven-year payment moratorium to kick-start Indian Railways' (IR) station redevelopment programmed, which will be funded through a combination of intergovernmental contracts and public-private collaborations.
IR has actually currently signed a memorandum of understanding (MoU) with French National Railways (SNCF) worrying the redevelopment of Ambala and Ludhiana stations in the north, while talks for comparable tie-ups are underway with prospective partner railways from Australia, Belgium, Germany, and China.
Draft tender files for the modernization of 400 categories A1 and A stations were released on IR's site last month and bids for the first group of stations will be submitted in June.
Over the last 2 years IR has actually signed MoUs with railways in 14 nations and numerous rounds of discussions have been held on station modernization techniques have been completed. The Korean federal government has actually reportedly provided to invest Rs 40bn ($US 754.7 m) in the redevelopment of New Delhi station.
In 2014 IR developed the Station Development Corporation and hired authorities from 2 public sector bodies to handle activities.
As the programmed includes multi-departmental and multi-sectoral cooperation, the Indian government has actually decided to set up a brand-new and independent body to undertake station redevelopment tasks. This organization will not be headed by an IR authorities and will have representatives of all stakeholders in the execution and management of the projects.
In current months the World Bank has actually held a number of workshops and meetings on India's station re-development capacity, highlighting examples of effective station projects elsewhere worldwide.