Foundation stone laid for India’s first bullet train project -Governance Now

Foundation stone laid for India’s first bullet train project

Japanese prime minister Shinzo Abe says his country is committed to Make in India

GN Bureau | September 14, 2017

#Bullet train #Japan #Shinzo Abe #Narendra Modi #Gujarat #Ahmedabad #Mumbai

Foundation stone of the 508 km long Ahmedabad-Mumbai high speed rail project was jointly laid by prime minister Narendra Modi and his Japanese counterpart Shinzo Abe on Thursday at Sabarmati in Gujarat.

Abe said the Japan government and Japanese companies made efforts to realise India’s dream of having a high speed train. He said Japan is committed for Make in India initiative and ready to extend all possible help to India.

“Japan needs a stronger India and India needs a stronger Japan,” Abe said.

Modi said India’s first bullet train project would bring a social change and is an example of strong friendship of both the countries.

The project would be executed at the cost of Rs 110,000 crore. Japan is giving a loan of Rs 88,000 crore at an interest rate of 0.1 percent which is to be repaid to Japan in 50 years. The interest would be paid after 15 years of receiving the loan from Japan.

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