A letter issued by the Railway Board said that by winding up of railway bodies or merging several organisations, based on the recommendation of Sanjeev Sanyal, Principal Economic Adviser to the Ministry of Finance, the Indian Railways has decided to dissolve the Indian Railway Station Development Corporation (IRSDC). has ordered. on Monday.
The Board, in a letter to all the General Managers, has ordered that all necessary procedural formalities should be initiated for the closure of IRSDC.
The letter further said, “The stations managed by IRSDC will be handed over to the concerned Zonal Railways and documents related to all the projects will be handed over by IRSDC to the concerned Zonal Railways. The Zonal Railway will further develop the projects of the stations.”
With this move, IRSDC is the second organization under the Ministry of Railways to be shut down after the Indian Railway Organization for Alternative Fuels (IROAF) closed on September 7, 2021.
It is worth mentioning that the nine-year-old Special Purpose Vehicle (SPV) for the job, IRSDC is a joint venture company between the Indian Railway Land Development Authority and IRCON.
In various station development projects including redevelopment of 63 stations, IRSDC was also involved in the redevelopment of Chhatrapati Shivaji Terminus in Mumbai.
It may be mentioned that IRSDC is at the heart of the mission of Indian Railways to transform the country’s railway stations into world class 24×7 hubs and is the nodal agency as well as the main project development agency (PDA) for the redevelopment of railway stations.
In order to fast track the redevelopment of railway stations and harness the real value of commercial development, IRSDC has streamlined all the processes for planning, design, tendering, implementation and management of railway stations in India during its nine year journey. Many tools have been developed to do this.
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