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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