Modi, Shinzo Abe Launch US$16.8 Bln Bullet Train Project

Last update: 14/09/2017

By Shakir Husain

NEW DELHI, Sept 14 (Bernama) -- Indian Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe on Thursday launched the US$16.8-billion bullet train project that India is developing with Japan's help.

The 508-km railway line will link the financial capital of Mumbai with the business hub of Ahmedabad in western India.

The Mumbai-Ahmedabad High-Speed Rail project, based on Japan's Shinkansen network, signals India's leap into a new age of railway infrastructure.

"A strong India is in Japan's interest and a strong Japan is in India's interest," Abe said after laying the foundation stone of the project in Sabarmati, Ahmedabad.

Of the project cost of 1.08 trillion rupees (US$16.85 billion), Japan will provide 81 per cent of the funding via a soft loan of $13.7 billion at an annual interest rate of 0.1 per cent.....