Indian Railway Stations Development Corporation Limited has handed over the operations and management of the Habibganj station, estimated to cost Rs 4.5 billion, to Bansal Pathways Habibganj Private Limited. The SPV has met all the “conditions precedent” of the development agreement and has also achieved financial closure for the project. Meanwhile, a total of eight firms have submitted bids for the redevelopment of the Surat railway station on a design-build-finance-operate-transfer basis. These firms are Adani Township and Real Estate Company Private Limited, JKB Infrastructure Private Limited, MBL Infrastructures Limited, a JV of Patel Engineering Limited and Kunal Structure (India) Private Limited, Reliance Infrastructure Limited, a JV of Cube Construction Engineering Limited and Adarsh Buildestate Limited, Shapoorji Pallonji and Company Private Limited and TRIF Gurgaon Housing Projects Private Limited. Regarding the redevelopment of the Kozhikode railway station, the Kerala government has accorded in-principle approval for the station to be redeveloped based on international standards with an initial investment of Rs 750 million. The bidding process has been initiated with bids already issued for project development.South Korean Railways has also evinced interest in undertaking the redevelopment of the New Delhi railway station that is expected to entail an investment of Rs 100 billion.