IRSDC enters into tripartite Agreement with French Railways & agency
The Indian Railway Station Development Corporation (IRSDC) entered into a Tripartite Agreement with French National Railways (SNCF) & AFD, a French development agency in order to support Railway Station Development Program in India.
Under the Tripartite Agreement, AFD will provide in-kind grant financing up to €700,000 to French Railways (SNCF), to provide technical know-how to Indian Railway Station Development Corporation (IRSDC), which is the station development arm of Indian Railways.
The technical know-how will be provided by French National Railways (SNCF)-Hubs and Connexions as a Technical Partner to IRSDC therefore, this will not impose any financial liability on IRSDC or Indian Railways.
Background: India and France have a strong, prosperous and long-standing partnership in Railway sector. The past association between French National Railways (SNCF) with Indian Railways includes conducting station development of Ludhiana and Ambala Railway stations and undertaking speed upgradation study to enable 200 kmph speed run on 245 km long Delhi-Chandigarh corridor, one of busiest routes in northern India.
Way Forward: The recently signed Tripartite Agreement will go a long way in further strengthening cooperation between India and France, as well as help Indian Railways in positioning its stations in accordance to world class standards.
Month: Current Affairs - June, 2019
Category: Economy & Banking Current Affairs
Topics: Delhi-Chandigarh Corridor • French National Railways • India-France • Indian Railway Station Development Corporation • Indian Railways • Railway Station Development Program • SNCF • SNCF-Hubs and Connexions • Tripartite Agreement with French National Railways