Mumbai: The state government has allocated Rs 125 crore as first instalment for the 508.17km long bullet train project between Mumbai & Ahmedabad. The Maharashtra & the Gujarat governments each have 25% stake and the railway department has 50% stake in the project.
A SPV (Special Purpose Vehicle) company has been established for this project in New Delhi.
The estimated cost of the project Rs 1.1 lakh crore wherein both the state governments will contribute Rs 5,000 crore each and the railways will contribute Rs 10,000 crore.
The remaining funds for the project will be raised through loans.
Of the 508.17km, 155.642 km of the proposed alignment falls in Maharastra, 350.530 km in Gujarat and 2 km in Union Territory of Dadra and Nagar Haveli.
The High Speed Corridor of Mumbai-Ahmedabad has been proposed with 12 Stations-