India’s First Bullet Train Project Launched

India’s First Bullet Train Project Launched

India’s Prime Minister Narendra Modi and Japanese PM Shinzo Abe laid the foundation for India’s first bullet train at Ahmedabad in Gujarat on Sept. 14.

The Mumbai to Ahmedabad High Speed Rail project is expected to be finished within five years as the Indian government has set a deadline of starting the bullet train on August 15, 2022, which marks India’s 75th year of Independence.

The bullet train project is based on the Shinkansen super speed trains in Japan. This project is mostly funded by a loan from Japan. Of the Rs 1.08 crore, Japan is giving a loan of Rs 88,000 crore at a minimal interest of 0.1 per cent for 50 years. The repayment will begin only after 15 years. Read More…

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