Tripartite Agreement with French Railways | 12 Jun 2019

Indian Railway Station Development Corporation (IRSDC), has signed a tripartite agreement with French Railways (SNCF) and AFD, a French Development Agency.

Under this agreement, AFD has agreed to support capacity building for the railway station development program in India by providing in-kind grant financing up to 7,00,000 EURO, through French National Railways (SNCF)-Hubs as well as Connexions as a Technical Partner to the corporation.
This will not impose any financial liability on Indian Railways or IRSDC.
IRSDC is responsible for developing and redeveloping the existing and new railway stations across India.
The agreement will help Indian Railways in positioning stations across the country as world-class transport hubs.

Indian Railway Stations Development Corporation (IRSDC)

It is a special purpose vehicle (SPV) of the Ministry of Railway that has been designed to develop new stations and redevelop existing Indian railway stations.
IRSDC is a joint venture between Indian Railway Construction Company Limited (IRCON) and Rail Land Development Authority (RLDA).
ISRDC was incorporated under the Companies Act, 1956 on 12 April 2012
The core purpose of IRSDC is to build world-class railway stations that apply state of the art sustainable technologies. The redevelopment effort is being administered as a PPPP project, i.e. a Public Private Partnership People project.
One of the primary facets is the involvement of developers and the lease of surplus railway land. Thus, monetizing existing assets without stressing the budgetary resources of the nation.