Japan International Cooperation Agency (JICA) has submitted its final feasibility report on Mumbai-Ahmadabad bullet train corridor. The report estimates the value of the 505 km long high speed railway project to be INR 98,805 crore.
With the bullet train capable of speeds of over 300 kmph, the train journey time between the two western cities of India will be cut short from over 7 hours to about 2 hours. It’s also reported that the suggested train fair is higher than the first class AC ticket on Rajdhani express. Rough estimate puts its at around INR 2,800.
The JICA delegation, led by Japanese Ambassador to India Takeshi Yagi, submitted the report to Indian Railway minister Suresh Babu. The railway ministry will examine the report and decide the future course of action.
The report also says that if construction work commences in 2017, India’s first ever bullet train will be ready to ply in 2024. The ministry is expected to prepare a Cabinet Note outlining project feasibility and timelines to seek approval.
It is estimated that by 2023, around 40,000 passengers will be ready to adopt bullet train journey and hence its a financially viable project. It’s to be noted that apart from JICA, SNFC of France has also submitted its feasibility study and business model to the Indian government.