About 400 railway stations will be auctioned next month to redevelop in India by the Swiss method as approved by the Union cabinet. According to railway ministry out of 20 major stations one is Visakhapatnam’s.
“The Swiss method is a new process of giving contracts. Any person with credential can submit a development proposal to the government. That proposal will be made online and a second person can give suggestions to improve and beat that proposal,” as described by the finance minister, Arun Jaitley.
The investors will have all the right to change the infrastructure, platforms or lounges, build hotels, malls, multiplexes or commercial unit to gain the profit for next 40 years.
The other railway stations include Mumbai Central, Lokmanya Tilak (Kurla Terminus) and Borivali in Mumbai, Pune and Thane in Maharashtra, Indore and Bhopal in Madhya Pradesh, Udaipur city, Howrah, Allahabad, Kamakhya, Secunderabad, Vijaywada, Bangalore Cantt, Faridabad, Ranchi, Jammu Tawi, Kozhikode and Yeshwantpur.