IRSDC forms SPV for development of Gandhinagar station

The Indian Railway Stations Development Corporation (IRSDC) has formed an SPV with the Gujarat government, with equity stakes of 24 per cent and 76 per cent respectively, for the development of the Gandhinagar station. Currently, contracts worth Rs 1.47 billion have been awarded along with the construction of a 300-room hotel on the airspace of the station. Further, a project management consultant agreement has been signed between IRSDC, the Gujarat government and Gandhinagar Railway and Urban Development Corporation Limited. Construction work worth Rs 2.43 billion has already been sanctioned by the railways with around Rs 0.4 billion allocated towards project implementation in 2017-18.