The Indian Railway Finance Corporation (IRFC) sanctioned and executed agreements for a Rs 1.99 billion term loan facility with the Surat Integrated Transportation Development Corporation Limited (SITCO)- a joint venture (JV) between the Ministry of Railways (MoR) and the Government of Gujarat- on August 19, 2025, for the development of the Surat multi-modal transport hub (MMTH). This will be India’s first MMTH, located in Surat, Gujarat.
The project aims to integrate various modes of transportation, including rail, metro, bus rapid transit system (BRTS), city and regional buses, and intermediate modes such as autos and taxis. It will also provide advanced passenger amenities and station infrastructure.