Gujarat Exclusive > National-World > IRSDC, Indian Railways’ 9-year-old SPV, to be dissolved following Centre’s recommendation

IRSDC, Indian Railways’ 9-year-old SPV, to be dissolved following Centre’s recommendation

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  • All general managers have been instructed to begin formalities for closure of IRSDC

New Delhi:  The Indian Railway Stations Development Corporation (IRSDC), a special purpose vehicle by the Indian Railways for development of its stations, will now be dissolved following recommendations from the Centre.

The Indian Railway Board has issued a letter to this effect to all the general managers, instructing them to begin the necessary formalities for the closure of IRSDC.

“The stations managed by IRSDC shall be handed over to respective Zonal Railways and all the projects related documents shall be handed over to respective Zonal Railways by IRSDC. Zonal Railways will further develop the stations’ projects,” the letter from the Railway Board read.

The SPV is a joint venture between the Indian Railway Land Development Authority and IRCON. It has development many tools to streamline processes for planning, designing, tendering, implementation and management of railway stations in India.

The Cabinet Secretariat has recommended integration and structural reforms of various bodies under the Railways ministry, as well as merger of various Railways institutions.

The report, with these recommendations, on Rationalization of Government Bodies under the Ministry of Railways, was prepared by Sanjeev Sanyal, principal economic advisor in the Ministry of Finance.

The report also recommended upgrading all 125 railway hospitals and brining railway schools under the Kendriya Vidyalaya Sangathan (KVS),

 

 

 

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