Railway Ministry Discusses Concession Agreement on Stations Redevelopment with Stakeholders

Ministry of Railways, RLDA and IRSDC held consultation with various stakeholders in connection with finalization of Model Concession Agreement for Station Development through PPP mode. It was a part of an elaborate exercise t

BY Realty Plus
Published - Friday, 10 Sep, 2021

Railway Ministry Discusses Concession Agreement on Stations Redevelopment with Stakeholders

Ministry of Railways, RLDA and IRSDC held consultation with various stakeholders in connection with finalization of Model Concession Agreement for Station Development through PPP mode. It was a part of an elaborate exercise taken up by the Ministry of Railways, under the guidance of Hon’ble Minister for Railways, Sh. Ashwani Vaishnaw, to simplify the Model Concession Agreement (MCA). Earlier the draft MCA was uploaded on the website of the Ministry of Railways and response from the stakeholders was solicited. Most of the Stake Holders appreciated the draft MCA and the process run by the Ministry of Railways to include the views of the industry. “National Monetization Pipeline of the Rs. 6,00,000 Cr. announced by the Government of India includes 400 stations where an investment of Rs. 76000 Cr. is envisaged. 40 stations are targeted to be taken up in 2021-22 and another 120 stations in 2022-23. To make the program a success, the concerns of various stakeholders need to be addressed. To have a smooth implementation of this ambitious program, Ministry of Railways has shared the draft MCA and held this webinar for active participation of the stakeholders in the process.” said Ved Parkash Dudeja, VC/RLDA. Rail Land Development Authority (RLDA) is a Statutory Authority under the Ministry of Railways with a mandate to develop and monetize surplus Railway Land, Colony redevelopment and station redevelopment across the country. RLDA is presently working on 112 stations, 84 colonies and over 100 Greenfield Commercial sites for the development and monetization.