India and Japan are planning to ink an agreement on ‘Bullet Trains’ during Japanese Prime Minister Shinzo Abe’s visit.
- Abe’s Special Adviser Hiroto Izumi will be in Delhi this week for high-level talks to finalise the terms of the agreement on high-speed trains, known as Shinkansen in Japan.
- The first train is planned between Mumbai and Ahmedabad.
- The project will cut travelling time between Mumbai and Ahmedabad from seven to two hours.
Japan is likely to agree to finance the Rs 90,000 crore plus railway project through a soft loan at 0.5% interest with repayment tenure of 50 years.
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