Belgium Railways

AFII has represented Belgium Railway's station development arms Euro Immo Star and Eurostation in India since 2010 for engaging in Station Redevelopment on the Public Public Partnership Model that helps the Government utility to substantially gain from the valorisation linked development process. This differs from the traditional Public Private Partnership where the control over Social Assets passes on to a Private Company leading to significant financial loss to the community and the government at large. In India, Dr. Mahesh Gandhi, Managing Director of AFII, conceived the concept of Public Public Cooperation and has been steadfastly supporting the process of economic development on this Model.

Eurostation and Euro Immo Star are an integrated work group of Belgium Railways (owned by the Government of Belgium) that are entrusted by the Government of Belgium with the responsibility of effective development of railway infrastructure at the Stations as also with optimum valorisation of Rail Estate to enable useful financing of the implementation process. The capability matrix of these companies includes Urban Design, Feasibility Studies and Real state Development by Euro Immo Star, and, Project Management, Architecture, Engineering, Construction and Project Management of Station Redevelopment Process by Euro Station.

In August 2012, Eurostation & Euro Immo Star signed an MoU with Indian Railways to partner in railway station redevelopment works across India in the presence of Hon'ble Deputy Prime Minister of Belgium and Hon'ble Minister of Railways, Government of India. Under this MOU, Indian Railways (IR) & Belgium Railways (BR) proposes to undertake redevelopment / modernization of 14 railway stations together with a valorisation linked development plan. IR & BR shall jointly set up Indo-Belgian Station Redevelopment Engineering Company. This shall lead to optimization of the railway infrastructure by creating cash surplus projects rather than seeking viability gap finance.

Projects in India

VERTICAL PROJECT STATE
Railways Station redevelopment Phase I shall comprise of Four Stations Estimated Value: USD 2700 Mn (Railway Infrastructure) USD 3200 Mn (Real Estate)

Links

1) http://www.indiaprwire.com/pressrelease/transportation/2010040147140.htm

2) http://www.pib.nic.in/newsite/erelease.aspx?relid=85667