The Union Cabinet chaired by the Prime Minister Narendra Modi on 16 July 2015 gave its approval for redevelopment of 400 railway stations (‘A-1’ and ‘A’ category). These stations will be redeveloped by adopting the Swiss Challenge method.
These stations are generally located in metros, major cities, pilgrimage centres and important tourist destinations across the country.
Why Swiss Challenge Method?
• Need to redevelop large number of stations in light of inability of Indian Stations Development Corporation Ltd. (IRSDC) to redevelop such a large number of identified stations. IRSDC is the agency under which redevelopment of identified stations is being undertaken
• It will also encourage innovative ideas from interested parties at no cost to the Railways.
• It will allow interested parties to come up with their designs and business ideas including permitting commercial development of real estate by the Zonal Railways. The proposals presented by these parties will be put online and a second person can give suggestions to improve and beat that proposal.
Swiss Challenge method
Swiss Challenge Approach means a Private Sector Participant (Original Project Proponent) submits an unsolicited or suo-motu proposal and draft contract principles for undertaking a project, not already initiated by the Government Agency or the Local Authority. The Government Agency or the Local Authority then invites competitive counter proposals in such manner as may be prescribed by the Government.
Proprietary information contained in the original proposal shall remain confidential and will not be disclosed.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 16 July 2015
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.