Bullet Train: PM Modi and Shinzo Abe to Initiate Mumbai-Ahmedabad High Speed Rail
India is just a small step away from launching its bullet train project.
Business Standard has reported that that Prime Minister Narednra Modi’s most ambitious bullet train project — Mumbai-Ahmedabad High Speed Rail — will be launched during the visit of Japanese Prime Minister Shinzo Abe in September 12–14.
Indian PM and Japanese PM will jointly inaugurate the bullet train project. They will lay down the foundation stone in a ground breaking ceremony, which will be held in Ahmedabad or Gandhinagar (Gujarat) according to BusinessLine.
The agreement reached between the countries involves a loan worth $12 bn at an interest rate of 0.1 per cent for the period of 50 years.
The decision on Mumbai-Ahmedabad HSR project was taken by PM Modi and counterpart PM Abe in December 2015 during Abe’s visit to India.
Construction of 500-km bullet train link between Mumbai and Ahmedabad was assured to begin in 2018-end to be made operational by 2023.