Gandhinagar railway station to be redeveloped
Saturday, 07 Jan 2017
On 9 January, 2017, Prime Minister Narendra Modi will perform the ground breaking ceremony for redevelopment of the Gandhinagar railway station at Gujarat.
The project is estimated to cost Rs 250 crore and is expected to be completed before the Vibrant Summit 2019.
The proposed project also includes building a five-star hotel with 300 rooms above the railway station. The five-star hotel will have three towers and will accommodate delegates coming to attend the Vibrant Summit.
The railway station will be redeveloped through the SPV between the government of Gujarat and Indian Railway Stations Development Corporation (IRSDC). The proposed name of the SPV is Gandhinagar Railway & Development Corporation (GARUD).
The state government will hold 74 percent stake in the SPV, while the Ministry of Railways will hold the remaining 26 percent.
Both, the state government and the Railway Ministry will invest Rs 50 crore each in the proposed project, while Gandhinagar Railway & Development Corporation will take a loan of Rs 120 crore to complete the project.