MUMBAI, AHMEDABAD (METRO RAIL NEWS): The Mumbai Ahmedabad High-Speed Rail (MAHSR), a project that is dear to Prime Minister Narendra Modi, will receive a loan from the Japan International Cooperation Agency (JICA) of 100,000 million Japanese Yen (roughly Rs 6,000 crore) as Tranche 3 to provide Official development assistance (ODA).
The MAHSR project is moving more quickly under the new Eknath Shinde-Devendra Fadnavis administration. By constructing a high-speed train between Mumbai and Ahmedabad utilizing Japan’s Shinkansen technology, the project aims to create a high-frequency mass transportation system, improving mobility in India and promoting regional economic growth.
According to a news release, the loan agreement was signed by Watanabe Jun, Senior Representative of JICA India, and Rajat Kumar Mishra, Additional Secretary of the Department of Economic Affairs in the Government of India’s Ministry of Finance.
“The MAHSR project helped to create India’s first high-speed rail initiative. This project, which incorporates high-speed rail technology from Japan, has become a representation of cooperation between Japan and India. In terms of civil work, much progress has already been made. We anticipate a time soon when the Shinkansen system used in the project will help the entire region expand economically and socially, generating cash for the local populace” Said Mr Jun