Indian delegation in Tokyo to finalise schedule for bullet train project

| Sunday, May 15, 2016 - 21:13
First Published |
NITI Aayog, Arvind Panagariya, india, japan, Tokyo, bullet train, Hiroto Izumi, Indian to finalise bullet train project

Indian government has set up a National High Speed Rail Corporation to implement the project | Photo: IANS

New Delhi: An Indian delegation led by NITI Aayog vice chairman Arvind Panagariya, and including Railway Board chairman A.K. Mittal and other top officials, will meet senior Japanese officials on Monday to finalise the schedule for the bullet train project between Mumbai and Ahmedabad,an official statement said.

The Japanese side will be led by Hiroto Izumi, special adviser to the Japanese prime minister, the railway ministry said in a statement here.

The Indian government has set up a National High Speed Rail Corporation with paid-up capital of Rs 200 crore to implement the bullet train project.

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The high-level team will also discuss the finalisation of the general consultant for the project, the statement said.

"Since the loan negotiation and finalization of loan agreement will take some time, government of India, to achieve timely implementation of project, have requested for a proper schedule of project implementation, and had also requested for appointment of general consultant before the finalization of loan agreement.

"The appointment of general consultant will enable start of preparatory activities like designing and preparation of tender documents," it said.

On Tuesday, the Indian team will explore the possibilities of participation of Japanese companies in the bullet train project under the Make in India initiative, it added.

"The event will be participated by almost 100 Japanese companies and 21 Indian companies," the statement said.

The Shinkansen train, designed to run at more than 300 km per hour, is being financed by the Japan International Cooperation Agency that is providing a loan of around Rs 79,380 crore, which amounts to 81 percent of the total project cost.

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