The Indian Railways Station Development Corporation (IRSDC), a joint venture between Rail Land Development Authority (RLDA), Rail India Technical and Economic Services (RITES), and Indian Railway Construction (Ircon) is being shut down.
RLDA has 50 per cent stake, Ircon has 26 per cent and RITES has 24 per cent. IRSDC was initially a JV between Ircon and RLDA. Ircon sold part of its stake to RITES in 2020 for Rs 48 crore. IRSDC was tasked with the responsibility of implementing and monitoring station modernisation projects.
According to an order from the Railway Board, all stations managed by IRSDC shall be handed over to the respective Zonal Railways. Projects at the planning stage will be taken forward by the Zonal Railways. This was the approach adopted before the formation of IRSDC in 2012.
