New Delhi: If things go as planned then the Indian government will launch country’s first bullet train by 2023. As per information center is setting grounds to purchase 18 E5 Series bullet trains from Japan for ₹70 billion. The Bullet Train project is financed via soft loans from the Japan International Cooperation Agency (JICA).
India is likely to spend around ₹70 billion on procuring the first batch of Bullet Train. The train will run between Mumbai and Ahmedabad route.
Very soon tender for purchasing Bullet Train from manufacturers in Japan will go live. The model will be the very popular Shinkansen E5 Series. This model was launched in 2011 and can travel up to a speed of 320 km/hr. It will have three classes of seating arrangements.
In keeping with ‘Make in India’ initiative Hitachi and Kawasaki manufactures from Japan will set up production facilities in the country. This will give a major boost to the initiative and help in creating employment in the country.
The soft loan for developing the project will come from JICA with a total credit of approximately ₹880 billion and is to be paid over 50 years at a nominal rate of 0.1%.
JICA and India have a long and fruitful partnership. JICA financed country first metro train network in Delhi. JICA offered both technical assistance and loan for the project.
Bullet Train project highlights:
- The Bullet Train corridor is 508 km long
- Built in tandem with Japanese experts
- As per plan 12 stations will be there on route
- The starting fare is expected to be ₹3000
The shorter route between Surat and Billimora to be operational in 2022
High-Speed Training Institute to come up in Vadodara for the project
The central government is hopeful of making the project operational by 2023. This can only happen if they managed to acquire land. Currently, there are many protests going on in Gujarat and Maharashtra over land acquisition.
Villagers whose land will be acquired are demanding for jobs and a much higher compensation. However, with all this resistance, officials from the National High-Speed Rail Corporation (NHSRCL) are optimistic about meeting the deadline. They are positive on meeting 2018 December deadline for land acquisition. In Maharashtra, the deadlock between NHSRCL and villagers might end soon.