cities

Bullet train: Japan lends Rs. 5,500 crore

Japan has granted a loan of Rs. 5,500 crore for the Mumbai-Ahmedabad bullet train project on Friday. Tokyo also boosted the metro train service in the Kolkata suburbs with a fresh cash infusion.

The Embassy of Japan here said in a press release that the amount was part of the tranche 1 of the Mumbai-Ahmedabad High Speed Rail Project (MAHSR). The Japan international Cooperation Agency (JICA), the funding body in charge of the bullet train project, simultaneously issued Rs. 1,600 crore for the metro rail system between Howrah Maidan to Salt Lake Sector V.

The total amount of loan in tranche 1 for the project is 25,903 million Japanese Yen, about Rs. 5,500 crore.

Source: Read Full Article