The project envisages development of a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan’s Shinkansen technology, thereby enhancing mobility in India and contributing to regional economic development.
JICA Chief Representative in India Katsuo Matsumoto said the Shinkansen technology has contributed to regional wide economic and social development in Japan which brought about income generation to local residents.
“As for this MAHSR, extensive survey has been done for the environmental and social impact of the project, and the project shall be implemented adhering to JICA’s environmental and social guidelines,” he said. “India has witnessed strong economic growth in recent years, and with this growth has come a sharp rise in the volume of passengers and goods being transported in the country,” Matsumoto added.
The ODA loan agreement was signed between C S Mohapatra, Additional Secretary in the Department of Economic Affairs (DEA) at the Ministry of Finance and Matsumoto, the agency said. The project is being implemented by the National High Speed Rail Corporation (NHSRCL).
JICA had in September last year also signed an agreement with India for providing an ODA loan of 10,453 million Japanese Yen (around Rs 640 crore) to develop a training Institute at Vadodara, Gujarat, for the bullet train project. The institute, with facilities and equipment to help trainees, will be set up so that operational and safety standards and traveling experience matches the Shinkansen originals in Japan, JICA said.
The Japanese state-owned funding agency is also supporting the Western Dedicated Freight Corridor project of Indian Railways by extending ODA loan of 442,723 million Japanese Yen (Rs 27,200 crore).
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