Two important railway junctions in Uttar Pradesh, Kanpur and Allahabad junctions are going under the hammer. As part of the union government's redevelopment scheme under Public Private Partnership, bidding will be held on these two railway junctions on June 28 according to media reports.
The online auction will be held on June 28, according to reports. The base price for Kanpur junction has been fixed at Rs 200 crores while it is Rs 150 crore for Allahabad junction. The best bidder will be announced on June 30, reports said. Railway minister Suresh Prabhu had made public the government's decision to redevelop prominent railway stations in the country under the PPP mode.
In May he had said that the government had plans to auction one of its largest PPP projects that will include redeveloping 25 of the country's most prominent railway stations. The minimum investment for this project was slated to be Rs 30,000 crore. As part of the redevelopment, the bidders are expected to revamp infrastructure at the train stations like platforms and lounges. They will also be allowed to build hotels, malls, multiplexes and other commercial units at the land that will be earmarked by the railways. The bidding process has been initiated after consultations with real estate players. The investors are willing to invest in exchange for a long-term contract for the commercial exploitation of railway land, the minister had told a newspaper earlier in May.
The government plans to redevelop prominent stations including Bengaluru city, Lokmanya Tilak in Mumbai, Pune, Thane, Visakhapatnam, Howrah, Allahabad, Kamakhya, Faridabad, Jammu Tawi, Bangalore Cantonment, Bhopal, Mumbai Central (Main), Borivali, and Indore.