TIL Desk/National/New Delhi/ Prime Minister Narendra Modi and his counterpart from Japan Shinzo Abe will lay the foundation for the country’s first high-speed train project — Ahmedabad-Mumbai bullet train — on September 14th in Ahmedabad.
The 508-km-long project to be built with estimated investment of ₹1,08,000 crore will be funded up to 81% by Japan with soft loan of ₹88,000 crore at interest rate of 0.1% with repayment period 50 years.
“It is for the first time in history in India that an infrastructure project is being funded on such favourable terms,” a release issued by the Gujarat government stated, claiming that the entire project would be funded without putting any strain on existing financial resources of the country. The release stated that the project testing and commissioning date has been advanced from December 2023 to August 2022.
According to the details of the project, the Mumbai Ahmedabad High Speed Rail will be passing through two States, Maharashtra 155.642 km and Gujarat 350.530 km and one Union Territory of Dadra and Nagar Haveli 2 km. The double-track project involves 21 km of tunnel with seven km under sea at Thane Creek in Mumbai.
