India’s first bullet train project “MAHSR” to be built with help of Japan
India’s first bullet train project “Mumbai–Ahmedabad High-Speed Rail (MAHSR) corridor” will be launched during the visit of Japanese Prime Minister Shinzo Abe in September 12-14, 2017. Abe and Prime Minister Narendra Modi will jointly inaugurate the bullet train project with the laying of foundation stone and a ground breaking ceremony.
This is expected to take place in Ahmedabad or Gandhinagar (Gujarat). This is Rs 1 lakh crore project which involves construction of a 505-km line using Japanese ‘Shinkansen’ technology. For this, Japan will provide a soft loan worth $12 billion, at a cost of 0.1%, for a 50-year period including a 15-year moratorium. The Japanese government will be bearing 80% of the total project cost and the increase in cost estimate has to be borne by both India and Japan.