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Narendra Modi To Flag Off Bullet Train Project By September
Prime Minister of India Narendra Modi is likely to flag off the bullet train project in September 2017.
Finally, the bullet train project in India is all set to kick off this year. Prime Minister Narendra Modi is expected to flag off the project by September 2017.
The bullet train in India will become a reality with the help of Japan. PM Modi and Prime Minister of Japan, Shinzo Abe will attend the Bhoomi Pooja and foundation laying ceremony.
The Mumbai-Ahmedabad high-speed rail project will cost around Rs 97,636 crore. The bullet train will be based on the Japanese technology named as Shinkansen known for safety and comfort.
The high-speed train will cover a distance of 508km between Mumbai and Ahmedabad. In just two hours. This could be the first time that a global leader is participating in starting a major project in the country.
A source close to the project said, "A bhoomi poojan and foundation stone laying ceremony will be in September. However, the date is yet to be confirmed."
Indian Railway Minister Suresh Prabhu is aiming to commission the project by 2023-24. In February 2016, a National High-Speed Rail Corporation Ltd was formed for the high-speed rail corridor project.
The Japanese government will provide a loan of up to 81 percent of the project at the cost of 0.1 percent per year. The loan has to be repaid within 50 years with the 15-year moratorium.
Apart from the Mumbai-Ahmedabad corridor, five more corridors are planned. The five corridors are - Delhi-Mumbai, Mumbai-Chennai, Delhi-Kolkata, Delhi-Nagpur and Mumbai-Nagpur corridors.
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