Wednesday, November 25, 2015

Japan offers to finance India’s first bullet train

Japan has offered to finance India’s first bullet train with an estimated cost of Rs. 90000 crores at an interest rate of less than 1%. The loan is likely to cover 80% of the project.
  • The loan is on the condition that India buys 30% of equipment including the coaches and locomotives from Japanese firms
As per Japan International Cooperation Agency (JICA) report travel between 505-kilometre corridors linking Mumbai and Ahmedabad would be reduced to 2 hours from existing 7 hours.
The bullet train is expected to have speeds between 300km/h and 350km/h.

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