Japan has reportedly offered to meet 80% of the Mumbai-Ahmedabad project cost, on condition that India buys 30% of equipment, including the coaches and locomotives from Japanese companies.
Japan has offered to finance Mumbai-Ahmedabad high speed rail corridor estimated to cost ~INR 90,000 crore at an interest rate of less than 1%, Railway Ministry officials have been quoted as saying to a financial daily.
In its report submitted to the Railway Ministry, Japan International Cooperation Agency (JICA) has envisaged a reduction in the travel time on the 505-km long corridor between Mumbai and Ahmedabad to two hours from the existing period of over seven hours.
The bullet train is expected to run at speeds of around 300-350 km/hour.
Japan has reportedly offered to meet 80% of the Mumbai-Ahmedabad project cost, on condition that India buys 30% of equipment, including the coaches and locomotives from Japanese companies.
A decision on the project is yet to be taken by the Railways because it will be decided at the highest level in the Government, the business newspaper has reported.
No comments:
Post a Comment