JICA Signs Agreement with India to Provide Rs 5591 Crore Loan for Mumbai-Ahmedabad Bullet Train Project

JICA Signs Agreement with India to Provide Rs 5591 Crore Loan for Mumbai-Ahmedabad Bullet Train Project

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Date of Post: 29 Sep, 2018

New Delhi: The JICA (Japan International Cooperation Agency) has signed an agreement with the Indian government to provide an Official Development Assistance (ODA) loan of 89.457 Billion Japanese Yen (approx. Rs 5591 crore) as Tranche 1 for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project.

Image Credit: ANI

More Information:

  • The objective of MAHSR is to develop a high-frequency mass transportation system by constructing the High-Speed Rail corridor between Mumbai and Ahmedabad, using Japan’s Shinkansen technology , thereby enhancing mobility in India and contributing to regional economic development.
  • The ODA loan agreement were signed between C.S. Mohapatra, Additional Secretary, Department of Economic Affairs (DEA), Ministry of Finance, and Katsuo Matsumoto, Chief Representative, JICA India.
  • Matsumoto said,”India has witnessed strong economic growth in recent years, and with this growth has come a sharp rise in the volume of passengers and goods being transported in the country.”
  • “Both Maharashtra and Gujarat states have been the nation’s growth drivers, and MAHSR is expected to further support such economic pulse as had the Shinkansen done for Japan. With this project, we aim to simplify mobility, ease connectivity and enhance regional economic development with a safe and reliable inter-city transport system,” Matsumoto said.
  • The NHSRCL (National High Speed Rail Corporation Limited) is the Executing Agency of the MAHSR Project.
  • A training institute, which will have the facilities and equipment to help trainees, will be set up so that operational and safety standards as well as the traveling experience will match the Shinkansen originals in Japan.
  • In September 2017, JICA signed an agreement with India providing an ODA Loan of 10,453 million Japanese Yen (approximately Rs 640 crore) to develop a training institute at Vadodara, Gujarat.

To know more about recent developments of High Speed Rail-

06 Sep, 2018 : India To Procure 18 High Speed Trains from Japan for Rs 7,000 Crore

04 Sep, 2018 : Bullet Train Update: Land Acquisition Process in Maharashtra for Mumbai-Ahmedabad Bullet Train Project To Be Completed by 2018-End

01 Sep, 2018 : Bullet Train in India To Run With Same Quality and Parameters as in Japan


Author:

Deepak Kumar is a part of the content team of Rail Analysis India as a writer and analyst .
His focus is on new initiatives on the Railway Sector of India .
Please reach us at editor@railanalysis.com for more information .


 

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