Work on bullet train project to start on September 14: Goyal

New Delhi :  Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe will on Thursday lay the foundation stone for India’s first bullet train project, connecting Mumbai and Ahmedabad, in Ahmedabad, Railway Minister Piyush Goyal said on Monday.

“The commencement of work on the country’s first High Speed Rail (Bullet train) project will begin on September 14 in Ahmedabad,” Goyal told reporters here, adding that the bullet train technology would “revolutionise and transform the transport sector”.

“This will be a historical moment as India will gets it first bullet train,” he said.

“This is an occasion to celebrate the advent of the most modern technology in India. It shall also benefit the farmers for transportation



of agricultural produce in a fast mode,” Goyal said.

The Railway Minister said that the high-speed rail was envisioned by Modi to take Indian Railways towards “most modern technologies like developed countries”.

With the Indian Railways adopting most modern technologies, the bullet train was an endeavour to bring economic growth and prosperity in the country, he said.

The 508-km Mumbai-Ahmedabad High Speed Rail Project will entail an estimated 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 and the interest on this loan is minimal, i.e. 0.1 per cent,” Goyal said.

“This loan is to be repaid to Japan in 50 years. Loan repayment period of 50 years with 15 years grace.”