Surat (ST): Surat railway station is on course to become the first in the country to undergo transformation under the redevelopment policy for stations as announced by railway minister Suresh Prabhu in the statement of estimated receipts and expenditure for 2015-16 for Indian Railways presented by him in the Lok Sabha on Thursday.
The re-development of Surat railway station would take place on 2.27 lakh square metre of land near the station belonging to the Indian Railways, Surat Municipal Corporation (SMC) and Gujarat State Road Transport Corporation (GSRTC). A special purpose vehicle (SPV) is likely to be formed by them for the Rs 5,000 crore project.
“The capital investment would come from a private party. It would be decided through an open bidding process. The private partner would get the benefits over a staggered period of time,” municipal commissioner Milind Torwane said.
The groundwork for the project is being done by a’XYKno Capital Services Limited, a private consultant based in Nagpur. The consultant, appointed by Indian Railways Station Development Corporation (IRSDCL) a month ago, is carrying out feasibility study and revenue sharing models for the project.
Consulting firm’s director K Vishwanath said, “Surat railway station will be revamped within the stipulated time.” The master plan for it is likely to be ready by 31 March, 2016. A re-developed Surat railway station with a multi-mode transit plaza etc. is expected to be ready by 2017-end for use by the people.