An MoU has been entered into between the Ministry of Railways and the Ministry of Urban Development for integrated planning of railway stations in the cities included in the Smart Cities and AMRUT scheme. This would lead to an integrated public transit hub around the railway stations, and encourage Transit-Oriented Development.
Each Smart City has incorporated a Special Purpose Vehicle (SPV) to execute the Smart City Plan. The SPV may form a joint venture company with an MOR-designated entity to implement railway station redevelopment projects in these cities.
Another form of joint venture could be between the MOR-designated entity, the Smart City SPV and the National Building Construction Corporation Ltd (NBCC). Besides these two models, the concerned ministries may decide jointly about any other mutually agreed model if considered necessary.
As these projects are complex in nature and require detailed techno-economic feasibility studies, no timeframe has been presently set for completion of these projects.