Japan may construct first Indian bullet train track

NEW DELHI: Japan has offered a loan amounting to 81 per cent of the cost of the $15 billion Mumbai-Ahmedabad high speed rail project, Rajya Sabha was informed today. "Government of Japan has given an assistance package proposal for Mumbai-Ahmedabad high speed rail project involving financial assistance to the tune of 81 per cent of the project cost as loan," Minister of State for Railways Manoj Sinha said in a written reply to a question. With trains zipping along at up to 320kph, the Mumbai- Ahmedabad railway is expected to reduce travel time between the two cities from around eight hours to roughly two. Construction is supposed to begin in 2017, with completion slated for 2023. In response to another query, the minister said that Western Dedicated Freight Corridor project is funded substantially by Japan International Cooperation Agency (JICA). DFCC, a Special Purpose Vehicle (SPV), is engaged in planning, construction, operation and maintenance of the dedicated freight corridors. (India Times)