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Indian Railway Station Development Corporation (IRSDC) enters into Tripartite Agreement with French National Railways (SNCF) & AFD, a French Agency (Relevant for GS Prelims; Economics)

Indian Railway Station Development Corporation (IRSDC) entered an Tripartite Agreement with French Railways (SNCF) & AFD, a French Agency. Under this agreement, AFD a French agency, has agreed to provide in-kind grant financing up to 7,00,000 EURO, through French National Railways (SNCF) as a Technical Partner to IRSDC to support the Railway Station Development Program in India. This will impose no financial liability on IRSDC or Indian Railways.

About Indian Railway Stations Development Corporation
The Indian Railway Stations Development Corporation (IRSDC) is a special purpose vehicle (SPV) of the Government of India that has been established to develop new stations and redevelop existing Indian railwaystations. IRSDC is a joint venture between Indian Raliwau Construction Company Ltd. (IRCON) and Rail Land Development Authority (RLDA) with a 51:49 equity shareholding ratio respectively. ISRDC was incorporated under the Companies Act, 1956 on 12 April 2012.

(Source:http://pib.nic.in/PressReleseDetail.aspx?PRID=1573850&RegID=3&LID=1)



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