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India : Shareholder Agreement & Development Agreement for IRSDC Signed

July 19, 2014

Shareholders Agreement for the functioning of IRSDC, (a Joint Venture Company of RLDA- 49% and Ircon International Ltd - 51%) was signed by Shri Y. P. Singh, Vice Chairman RLDA and Shri Mohan Tiwari, CMD, IRCON, yesterday. In addition, another agreement namely Development Agreement was also signed by Shri Anil Kumar Gupta, General Manager, Railway Infrastructure, on behalf of RLDA, and Shri S. P. Mahi, Chief Executive Officer, IRSDC for development/re-development of railway stations on Indian Railways.

At present, with the approval of Ministry of Railways, five railway stations at- Chandigarh, Anand Vihar, Bijwasan (both at Delhi), Habibganj (Bhopal) and Shivaji Nagar (Pune) have been entrusted by RLDA to IRSDC for redevelopment that will involve modernization and up gradation of passenger amenities at these stations by raising finances through commercial development of railway land and air space at these stations. IRSDC has already finalized Master Plans for all the five stations and is in the process of obtaining various approvals and clearances from railway and state authorities which will be followed by invitation of bids for appointment of developers. Photograph taken on the occasion is attached.

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Source: TendersInfo (India)

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