Japan offers Rs. 79,000cr for bullet train project

Japan Bullet Train Project
In order to fast track the high-speed 508-kilometre long rail line between Mumbai-Ahmedabad costing Rs 97,636cr, Japan has agreed to finance a staggering sum worth Rs. 79,000-cr to complete the project, railway minister, said adding that the transporter has managed to get soft loan with 0.1 per cent interest from Japan for a period of 50 years with a moratorium of 15 years, at an interest rate of 0.1 per cent.

He also stated that the railway is using the information technology in a big way in its operation and currently all tenders have come on electronic platform and the entire procedure of awarding contract will be online soon. Railway is playing a significant role in providing connectivity and currently its primary focus is to expand rail network connecting all parts of the country. Railway Budget has unveiled a slew of measures for expansion of the network and revamping of the organization to make it market oriented and robust for which the department has firmed up a roadmap for the rail expansion and a complete revamping of the organisation to make it an efficient one. There is a need for tapping resources outside the budgetary sources including tapping land assets on the sides of rail lines and to attract private investments in railways as extra budgetary resources need to be looked into for expansion of infrastructure as in South Asia it needs huge connectivity be it in waterways, roads, rail or digital connectivity.