The Indian Railway Finance Corporation (IRFC) has sanctioned a loan of Rs 199.70 crore to the Surat Integrated Transportation Development Corporation (SITCO) for developing a multi-modal transport hub.

The agreement was signed in New Delhi on 19 August between SITCO officials Mohit Kumar, Director, Namrata Makharia, Company Secretary, and IRFC’s General Manager (Finance) Ashish Saini. Planned as a key connectivity project, the hub will integrate multiple transport systems including rail, metro, bus rapid transit system (BRTS), city and regional buses, autos, and taxis. It will also upgrade station facilities and passenger amenities to cater to the growing commuter base in Surat, one of Gujarat’s fastest-growing cities.

SITCO, a joint venture between the Ministry of Railways and the Gujarat government, is leading the development. According to IRFC, the financial aid will ensure financial stability, enable timely execution, and support long-term sustainability. Officials highlighted that the hub will help reduce congestion, strengthen last-mile connectivity, and serve as a model for integrated urban transport in other fast-expanding Indian cities.