Japan International Cooperation Agency (JICA) will be sponsoring the feasibility report of the 534-km Ahmedabad-Mumbai bullet train project. The report, for which a MOU between the railways and JICA will be signed on September 30, will be completed in 18 months.
The Japanese interest in the high-speed corridor has inched India’s dream project closer to the reality. ?It would be co-financed by JICA and the railways,? chairman, railway board, Arunendra Kumar said. Kumar is in Japan to finalise the terms of the MoU. The study is estimated to cost around Rs 15 crore. ?Yes, the cost is too high and we’ll be needing soft loans for it. Japan’s keen interest has kept our optimism alive,? Kumar said.