Japan to offer 81% loan for Mumbai-Ahmedabad high speed rail project
High Speed rail on Mumbai-Ahmedabad sector through Japan’s Shinkansen will launch an evolution in Indian railways said Prime Minister Shri Narendra Modi.
No less historic is decision to introduce High Speed Rail on Mumbai-Ahmedabad sector through Shinkansen known for speed and reliability, he added.
Prime Minister of Japan Shri Shinzo Abe said Shinkansen High Speed Rail project is befitting the dawn of a new era of India-Japan economic relationship. He said he hopes to see more high speed trains in India.
Prime Minister Modi welcomed the Japanese ODA loans of about 100 billion yen for the metro projects both in Chennai and in Ahmedabad.
Prime Minister Abe expressed Japan’s intention to provide ODA loans for the improvement of road network connectivity in bortheastern states of Indi, the peripheral ring road surrounding Bengaluru, and the horticulture irrigation in Jharkhand.
Prime Minister Modi welcomed ongoing surveys regarding Mumbai Trans Harbour Link and the modernisation of ship recycling yards in Gujarat, and an expected survey for Tuticorin Outer Harbour.
The two Prime Ministers welcomed the signing of the Memorandum of Cooperation on introduction of Japan’s High Speed Railways (HSR) technologies ( the Shinkansen system) to Mumbai-Ahmedabad route. Prime minister Modi appreciated Japan’s consideration of providing highly concessional yen loan for the HSR on Mumbai-Ahmedabad route. Both sides will explore further strengthening of their partnership in high speed railways, which is a high technology area having potentiality to transform India’s transportation sector.