Within days after the Centre cleared the decks for expeditious implementation of the ambitious Bullet Train project by inviting tenders for the construction of a railway terminus at Bandra-Kurla Complex, Japan International Cooperation Agency (JICA) on Monday announced third tranche of Rs 6,000 crore for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project.
The JICA -- which has been supporting the project for the Bullet Train project --- signed a loan agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 100,000 million Japanese Yen (approx. INR 6,000 Crore) as Tranche 3 for the Construction of Mumbai-Ahmedabad High-Speed Rail (MAHSR).
The loan agreement was signed between Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India and Mr. Watanabe Jun, Senior Representative, JICA India.
The JCA had earlier in 2017 extended a loan package of JPY 250,000 million (approximately INR 18,000 crore) package that JICA had committed in 2017. National High Speed Rail Corporation Limited (NHSRCL) is the Executing Agency of the Project.
“The MAHSR project has contributed to the development of India's first High Speed Rail initiative. By introducing Japan's High Speed Rail technology, this project has emerged as a symbol of Japan-India collaboration. We have witnessed great progress in civil work so far,” Jun said.
“We believe that the day is approaching when the Shinkansen System adopted in the project will contribute to region-wide economic and social development, which will bring about income generation to local residents,” Jun said.
“With this project, we aim to simplify mobility and ease connectivity with a safe and reliable inter-city transport system. This Japan-India collaboration will ensure Transfer of Technology from Japan's High Speed Rail system to India, and also give a boost to "Make in India" initiative,” Jun added.
It may be recalled that on June 22 2922, the Centre had called called for tenders for the construction of an underground railway station at Bandra-Kurla Complex (BKC) in north central Mumbai.
The Shiv Sena-led MVA government, which came into existence on November 28, 2019, had put Prime Minister Narendra Modi’s pet Bullet Train on the backburner immediately after it assumed office.
The Narendra Modi government has now revived the Bullet Train project in little over three weeks after Eknath Shinde of the rebel Shiv Sena faction and senior BJP leader Devendra Fadnavis were sworn in as the chief minister and deputy chief minister respectively on June 30.
It may be recalled that in September 2017, Modi and his then Japanese counterpart Shinzo Abe had laid the foundation stone for India’s first bullet train project in Gujarat.
The 508 km-long Mumbai-Ahmedabad High Speed Rail Project(Standard Gauge) at an estimated completion cost of Rs 1,10,000 crore. Out of this Rs 1,10,000 crore, Japan is giving a loan of Rs 88,000 crore. Interest on this loan is minimal i.e. 0.1%, and this loan is to be repaid to Japan in 50 years. Loan repayment period of 50 years with 15 years grace.
In the first phase, the bullet train will cover 508 kilometres between Mumbai and Ahmedabad.
There are 12 stations proposed between Mumbai and Ahmedabad - Mumbai, Thane, Virar, Boisar, Vapi, Bilimora, Surat, Bharuch, Vadodara, Anand, Ahmedabad and Sabarmati. If the bullet train stops at 12 stations then it will cover the distance within 2 hours and 58 minutes.
The distance between Mumbai and Ahmedabad will be covered in 2 hours and 07 minutes by the bullet train if it stops at four stations namely Ahmedabad, Vadodara, Surat and Mumbai.
The operating speed of the bullet train will be 320 kilometers per hour and maximum speed will be 350 kilometers per hour.
