Bullet Train gets Rs 5,500 crore loan from International agency JICA
New Delhi : Finally Bullet Train project is getting the much needed impetus. As per Business Standard reports, Japan The Japan International Cooperation Agency (JICA) has signed an agreement with the Indian government to provide an Official Development Assistance (ODA) loan of 89,547 million Japanese Yen (approximately Rs 5,500 crore) as Tranche 1 on the "Project for the Mumbai-Ahmedabad High-Speed Rail (MAHSR)" corridor, commonly known as bullet train project. The purpose of MAHSR is to build up a high-frequency mass transportation system. The proposed route for building the High-Speed Rail is between Mumbai and Ahmedabad. The project will be made on lines of Japan"s Shinkansen technology (Bullet Train). This will go a long in way in enhancing mobility in India as well as aid in regional economic development. JICA said in a statement that Japanese state-owned funding agency has also signed another agreement to provide ODA loan of 25,903 million Japanese Yen (approxima...