Union Government Forms SPV for Bullet Train Project

New Delhi: According to information given by the Minister of State for Railways Shri Rajen Gohain in a written reply to a question in Rajya Sabha on Friday, a Special Purpose Vehicle, namely, National High Speed Rail Corporation Limited (NHSRC) has been formed in February, 2016 to implement Mumbai-Ahmedabad High Speed Rail corridor project.

The estimated cost of Mumbai-Ahmedabad high speed rail corridor is Rs 97,636 crore. Government of Japan has agreed to provide Japanese (Yen) loan upto 81% of the project cost at 0.1% per annum, to be repaid in 50 years with 15 years moratorium.

The target for commissioning the project is 2023-24. Work on scheduled activities such as appointment of General Consultant, Final Location Survey and training of officials has commenced.

The project has been sanctioned with 50% equity participation by Ministry of Railways and 25% each by the Governments of Maharashtra and Gujarat.

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