Thursday 9 March 2017

Private builders to redevelop Cantt, Yeshwantpur railway stations

Private builders to redevelop Cantt, Yeshwantpur railway stations

BENGALURU: Two railway stations, Cantonment (छावनी) and Yeshwantpur, will don a world-class look akin to airport terminals in the coming years. The railway ministry has embarked(शुरू किया) on a project to redevelop them with the involvement of private partners. In the project which will be executed under the public-private partnership (PPP) model, private real-estate companies will be given railway land for commercial exploitation and the revenue earned will be used to fund the revamp. A land parcel of 2.25 acres near the Cantonment railway station and 20 acres attached to Yeshwantpur station have been earmarked for the monetization(मुद्रीकरण) programme.
Railway minister Suresh Prabhu on Wednesday launched the redevelopment programme through a video conference, under which 23 railway stations across India, including Cantonment and Yeshwantpur, will get a makeover in the first phase. In the second and third phases, 380 stations have been proposed to be redeveloped. Railway officials said 15 stations in Karnataka, including Bengaluru City, Kengeri, Belagavi, Ballari, Vijayapura, Dharwad and Davanagere will among the 380. 
"We are looking at innovative models to redevelop stations and the main emphasis (जोर) is on the PPP model. The benefit will be mutual. It will be a great opportunity for the builders, passengers can enjoy world-class facilities and the railways can ramp up its revenues," said Prabhu before launching the programme.
The private builder will be given the land on lease for 45 years and carry out transit-oriented (पारगमन उन्मुख) development at the railway station. The builder has to surrender the station to the railways after 15 years of its redevelopment.
"We have reached out to all industry players," said the minister. He said the railway ministry is looking at all possible modes, including unsolicited bidding akin to the Swiss Challenge method. "We want to call it the India Challenge," Prabhu added.
The railway ministry has requested the Union ministry of urban development to include redevelopment of railway stations in its smart-city scheme. State governments have also been asked to be involved.

Definitions of embark शुरू किया

go on board a ship, aircraft, or other vehicle.
he embarked for India in 1817
synonyms: board ship, go on board, go aboard, hop on, jump on

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