In a double bonanza for Mumbai, Japan has agreed to lend 71 billion yen (Rs 3,943 crore) in soft loan for the development of the underground third line of Mumbai Metro between Colaba and Seepz in Andheri as well as conduct a joint feasibility study for a high speed railway link with Ahmedabad.
This was decided at a meeting between Prime Minister Manmohan Singh and his Japanese counterpart Shinzo Abe in Tokyo.
The Metro route which includes 27 stations is expected to cost around Rs 24,700 crore. Mumbaikars can now expect the third metro line by 2020, four years after the original deadline of 2016.
The two sides have already completed a joint feasibility study on upgrading the speed of passenger trains on the Delhi-Mumbai route to 160-200 kmph.
Japan has also offered 17.7 billion yen (Rs 983 crore) for Phase 2 of the campus development of IIT Hyderabad, and assistance for Indian Institute of Information Technology, Design and Manufacturing in Jabalpur.
The Metro rail network is expected to be extended from Andheri to Colaba by 2020, what with Japan giving a loan of 71 billion yen (Rs3,943 crore) for the third phase of the project. The exchange of notes was signed in Tokyo in the presence of prime ministers Manmohan Singh and Shinzo Abe. The countries have also decided to jointly conduct a feasibility study of a high-speed railway system between Mumbai and Ahmedabad.
The loan for Metro III will be given by the Japan International Cooperation Agency (JAICA) at an interest of 1.44%. The overall cost to lay the 33-km underground route between Colaba and SEEPZ in Andheri via Bandra and the airport (27 stations in all) is expected to be Rs.24,700 crore. Though the initial deadline was 2016, work is now expected to be over in seven years. The loan is the first of three instalments that are expected to cover 40% of the project cost.
Regarding the Mumbai-Ahmedabad high-speed rail corridor, Indian Railways and the French National Railway Company (SNCF), too, have decided to carry out an operations and development feasibility study.The project cost is estimated to be Rs.63,000 crore, the route length being 534 km.The project will take 10 years to finish. With trains running at 300 kmph, travel time between the cities will be cut down to two and a half hours, against seven hours taken by Duronto,the fastest train on the route at present.
There is also a plan to introduce trains on the Mumbai-Delhi corridor that can achieve speeds of 200 kmph—double the speed of the Rajdhani Express.
Japan on Wednesday pledged to invest in building high-speed railway systems in India
Prime minister Manmohan Singh, who is on a visit to Japan, expressed appreciation of Japan’s expertise in Shinkansen, or bullet train, systems and said India would plan such projects based on priorities and commercial viability
The countries will co-finance a joint feasibility study of a highspeed railway system between Mumbai and Ahmedabad
Both the French and the Japanese governments are fiercely competing for the bullet train project.
The French national railway SNCF is already working with the Indian Railways on the techno-feasibility report for the 630-km project between Ahmedabad and Pune via Mumbai. The report is likely to be submitted to the Railway Board in mid-June.
At the same time in Tokyo, Prime Minister Manmohan Singh and his Japanese counterpart Shinzo Abe issued a joint statement about conducting another bullet train feasibility study on the same stretch. “The two Prime Ministers decided that the two sides will co-finance a joint feasibility study of high speed railway system on the Mumbai-Ahmedabad route,” the statement said. Singh even appreciated Japan’s high level of expertise in designing and implementing Shinkansen (bullet train) systems.
The Rs 60,000-crore project will be executed along the existing railway track and will be funded jointly by Gujarat and Maharashtra governments on a public-private partnership model. Currently, trains cover the 490 km between Ahmedabad and Mumbai in about seven hours but the bullet trains are expected to travel at 350 km per hour, and cover the distance one hour and 50 minutes. The railway is targeting high-end users.
The French proposal will have stoppages at Vadodara, Bharuch, Surat, Mumbai, Lonavala and Pune. It will have 16 cars with a target of 32 round trips. “The fares will be about 70% of air travel cost,” he said. “A lot of air traffic may divert here. Though air travel time between Ahmedabad and Mumbai is less than an hour, security checks take a lot of time,” says a railways official. Railway officials said the work is to start by November on Delhi-Chandigarh and Ahmedabad-Mumbai-Pune.
This was decided at a meeting between Prime Minister Manmohan Singh and his Japanese counterpart Shinzo Abe in Tokyo.
The Metro route which includes 27 stations is expected to cost around Rs 24,700 crore. Mumbaikars can now expect the third metro line by 2020, four years after the original deadline of 2016.
The two sides have already completed a joint feasibility study on upgrading the speed of passenger trains on the Delhi-Mumbai route to 160-200 kmph.
Japan has also offered 17.7 billion yen (Rs 983 crore) for Phase 2 of the campus development of IIT Hyderabad, and assistance for Indian Institute of Information Technology, Design and Manufacturing in Jabalpur.
The Metro rail network is expected to be extended from Andheri to Colaba by 2020, what with Japan giving a loan of 71 billion yen (Rs3,943 crore) for the third phase of the project. The exchange of notes was signed in Tokyo in the presence of prime ministers Manmohan Singh and Shinzo Abe. The countries have also decided to jointly conduct a feasibility study of a high-speed railway system between Mumbai and Ahmedabad.
The loan for Metro III will be given by the Japan International Cooperation Agency (JAICA) at an interest of 1.44%. The overall cost to lay the 33-km underground route between Colaba and SEEPZ in Andheri via Bandra and the airport (27 stations in all) is expected to be Rs.24,700 crore. Though the initial deadline was 2016, work is now expected to be over in seven years. The loan is the first of three instalments that are expected to cover 40% of the project cost.
Regarding the Mumbai-Ahmedabad high-speed rail corridor, Indian Railways and the French National Railway Company (SNCF), too, have decided to carry out an operations and development feasibility study.The project cost is estimated to be Rs.63,000 crore, the route length being 534 km.The project will take 10 years to finish. With trains running at 300 kmph, travel time between the cities will be cut down to two and a half hours, against seven hours taken by Duronto,the fastest train on the route at present.
There is also a plan to introduce trains on the Mumbai-Delhi corridor that can achieve speeds of 200 kmph—double the speed of the Rajdhani Express.
Japan on Wednesday pledged to invest in building high-speed railway systems in India
Prime minister Manmohan Singh, who is on a visit to Japan, expressed appreciation of Japan’s expertise in Shinkansen, or bullet train, systems and said India would plan such projects based on priorities and commercial viability
The countries will co-finance a joint feasibility study of a highspeed railway system between Mumbai and Ahmedabad
Both the French and the Japanese governments are fiercely competing for the bullet train project.
The French national railway SNCF is already working with the Indian Railways on the techno-feasibility report for the 630-km project between Ahmedabad and Pune via Mumbai. The report is likely to be submitted to the Railway Board in mid-June.
At the same time in Tokyo, Prime Minister Manmohan Singh and his Japanese counterpart Shinzo Abe issued a joint statement about conducting another bullet train feasibility study on the same stretch. “The two Prime Ministers decided that the two sides will co-finance a joint feasibility study of high speed railway system on the Mumbai-Ahmedabad route,” the statement said. Singh even appreciated Japan’s high level of expertise in designing and implementing Shinkansen (bullet train) systems.
The Rs 60,000-crore project will be executed along the existing railway track and will be funded jointly by Gujarat and Maharashtra governments on a public-private partnership model. Currently, trains cover the 490 km between Ahmedabad and Mumbai in about seven hours but the bullet trains are expected to travel at 350 km per hour, and cover the distance one hour and 50 minutes. The railway is targeting high-end users.
The French proposal will have stoppages at Vadodara, Bharuch, Surat, Mumbai, Lonavala and Pune. It will have 16 cars with a target of 32 round trips. “The fares will be about 70% of air travel cost,” he said. “A lot of air traffic may divert here. Though air travel time between Ahmedabad and Mumbai is less than an hour, security checks take a lot of time,” says a railways official. Railway officials said the work is to start by November on Delhi-Chandigarh and Ahmedabad-Mumbai-Pune.
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