India is building its first bullet train with a whole lot of help from Japan

TomoNews US - Sunday, 17 September 2017

AHMEDABAD, INDIA โ€” India has started building a high-speed train system with the help of Japanese technology and finance. The network will stretch 508 kms from Ahmedabad to the financial center of Mumbai, and was announced Thursday by Prime Minister Narendra Modi, the Guardian reported. The country plans to invest $19 billion to construct the new bullet train line.

Japan will fund more than 80 percent of the project, over $14 billion, by providing a 0.1 percent interest loan to be repaid over the next 50 years. The line is expected to be finished by 2023 and will cut travel time between the two cities down to three hours from the current eight. The Modi administration claims that the project will create 36,000 jobs in India, according to the Guardian. The bullet train can carry 750 passengers at an average speed of 250 kph, with a top speed of 320 kph. Analysts say constructing the bullet train will give a boost to infrastructure development in Indiaโ€™s quickly-developing western industrial region and help with economic growth..

Recent related news

Recently, in the case of Texas Instruments (India) Pvt Ltd[1], the Authority for Advance Rulings (AAR) held that salary paid in India to a non-resident employee...
1 week ago • Mondaq

Microsoft has launched the Surface Pro, an updated version of Surface Pro 4 in India. Prices for the Surface Pro in India start from Rs 64,999. The new...
1 day ago • BGR India

You might like