Indian Railways Ministry is in the process of laying the foundation stone of a bullet train project in September. Meanwhile, Japan’s Prime Minister will be in India. This scheme will initiate in the presence of Indian PM Narendra Modi and the Prime Minister of Japan. Rail Ministries have already started preparing the agreements for the loan before laying the foundation stone.Detail Project Report has been prepared for Mumbai-Ahemdabad High Speed Rail Project. The key point of the plan is that the agreement has signed between Gujarat Infrastructure Development Board and National High Speed Rail Corporation Limited to connect various sources of traffic and transit-oriented development near stations located between Mumbai-Ahemdabad.
The Japan International Corporation Agency (JICA) has also prepared the report on economic and financial analysis. According to the report, 1689 hectares of land will be required for the plan.The tunnel will be constructed under sea for 21 kilometer and 503 kilometer long track. The plan is estimated to cost Rs 97,636 crore. The Japanese government will pay 81 percent interest on interest rate of 0.1 percent for 50 years.
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