To meet with the aspirations of rail users and to provide better facilities to them, Ministry of Railways have envisaged redeveloping large number of Railway Stations across India with the primary objective of augmenting and improving Passenger related amenities at stations. For redevelopment of such stations and having a mechanism for constantly upgrading and maintaining the Passenger amenities & facilities at stations to high standards, a need was being felt to have a nodal agency having the required professional competence for undertaking such projects in a holistic manner.
In this regard, it has been decided to undertake a process of setting up of a SPV “Railway Stations Development Corporation Ltd. with the equity participation of Ircon International Ltd. (IRCON), a Govt. company under the Ministry of Railways and Rail Land Development Authority (RLDA), a statutory authority under the Ministry of Railways. IRCON has vast national and international experience of infrastructure projects as well as development of commercial, institutional, industrial and residential properties. RLDA has the statutory mandate for commercial development of identified railway land and airspace for generation of revenues.