81% cost of Mumbai-Ahmedabad rail project loaned by Japan: Manoj Sinha

Japan has offered a loan amounting to 81 per cent of the cost of the $15 billion Mumbai-Ahmedabad high speed rail project, Rajya Sabha was informed on Friday.

“The government of Japan has given an assistance package proposal for Mumbai-Ahmedabad high speed rail project involving financial assistance to the tune of 81 per cent of the project cost as loan,” MoS  for Railways Manoj Sinha said.

With trains zipping along at up to 320kph, the Mumbai-Ahmedabad railway is expected to reduce travel time between the two cities from around eight hours to roughly two. The construction is supposed to begin in 2017, with completion slated for 2023.