High Speed Rail on Mumbai-Ahmedabad sector - MoC signed by India & Japan [ Current Affairs ]
In order to introduce High Speed Rail (HRS) on Mumbai Ahmedabad sector India and Japan have signed historic Memorandum of Co-operation (MoC) to revolutionize Indian Railways. The MoC was signed in New Delhi in presence of Prime Minister Narendra Modi and visiting Japanese Prime Minister Shinzo Abe.
- According to this agreement it confirms development of high speed rail corridor using Japanese high speed rail technologies as well as financial and technical assistance from Japan.
- The HRS project will be India’s first high speed rail line regarding the agreement.
- For connecting Mumbai and Ahmedabad it would be 508 km line.
- The total project cost is about 97, 636 crores rupees and this project will be implemented within 7 years.
- And with this travelling time between two cities will decrees from eight to three.
- Japan will extend loan up to 12 billion dollars and also provide technical assistance on easy terms for this project by its Shinkansen Technology.
- With the interests rate of 0.1 % the loan will provided for 50 years with a 15 years moratorium.
- Japan will cooperation on this project and also fixed transfer of technology and Make in India enterprise, and japan also gives training to employees for High Speed Rail
- Substantive Agreement has been reached by India and Japan on Cooperation in the Peaceful Uses of Nuclear Energy based on Civil Nuclear agreement. And regarding to this agreement both sides has confirmed cooperation in the peaceful uses of nuclear energy.
- After beat out certain technical and legal issues the final deal will be signed
- Published on: December 14, 2015