On December 12, India and Japan have signed a MoU on cooperation and assistance in the Mumbai – Ahmedabad High Speed Rail Project. Under the agreement, Japan has offered an assistance of over Rs.79,000 crore (USD 11.8 billion) for the project. The loan is for a period of 50 years with a moratorium of 15 years, at an interest rate of 0.1 per cent.
The project involves the construction of 508 km of railway line costing a total of Rs. 97,636 crore (USD 14.5 billion), to be implemented in a period of seven years. It has been agreed that Shinkansen Technology will be adopted for the project. The cooperation of Japan will be fixed on transfer of technology and “Make in India”. Japan will assist India in training of personnel for HSR.
Ministry of Railways and Japan’s Ministry of Transport signed a cooperation agreement on issues that involves the railway safety, rolling stock (including EMUs), information and infitainment systems, signalling and telecommunication, electrification, civil structure and railway track system as well as train control system.
Under the agreement between the two parties, RDSO and Railway Technical Research Institute Japan signed a MoU on technological cooperation. The main directions of cooperation between India and Japan shall be the development of rail-related technical cooperation in which they may have mutual interest, performance of consultation and other services.
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