The Railway Ministry is likely to come up with a revised cost estimate for the 508-km long high-speed rail corridor and seek Cabinet approval for funding to ensure completion of the project. People familiar with the plan said the ministry will seek additional funding from the Finance Ministry.JICA is providing approximately 81% of the original estimated cost through Official Development Assistance (ODA) loan at a highly concessional interest rate of 0.1% per annum. The repayment period is 50 years, with a grace period of 15 years.Meanwhile, in a webinar on the recently announced seven bullet train corridors, which will cover a distance of over 4,000 km and require an estimated investment of Rs 16 lakh crore, the Railway Board said it is considering various funding options, including financing through multilateral support, special purpose vehicles (SPVs) and centre-state partnerships. Railway Board Chairman Satish Kumar said they are considering intensive development along new corridors for feasibility, known as Transit Oriented Development (TOD), which experts say can be used to increase non-fare revenue for the projects.Speaking at the post-Budget webinar, BEML CMD Shantanu Roy said India needs to be self-reliant in manufacturing bullet trains and the manufacturing of the first two has already been initiated by the PSU. He said that in future the speed of these indigenous trains can be increased from 280 km per hour to 350 km per hour.Railway officials and experts said that for all future bullet train projects, the focus is on standardization of the entire system from construction to signaling and train manufacturing to enable economies of scale.Bullet Train Project: Railways unlikely to seek additional loan from JICA to meet high cost of Bullet Train project & more related News Here
The Railway Ministry is likely to come up with a revised cost estimate for the 508-km long high-speed rail corridor and seek Cabinet approval for funding to ensure completion of the project. People familiar with the plan said the ministry will seek additional funding from the Finance Ministry.JICA is providing approximately 81% of the original estimated cost through Official Development Assistance (ODA) loan at a highly concessional interest rate of 0.1% per annum. The repayment period is 50 years, with a grace period of 15 years.Meanwhile, in a webinar on the recently announced seven bullet train corridors, which will cover a distance of over 4,000 km and require an estimated investment of Rs 16 lakh crore, the Railway Board said it is considering various funding options, including financing through multilateral support, special purpose vehicles (SPVs) and centre-state partnerships. Railway Board Chairman Satish Kumar said they are considering intensive development along new corridors for feasibility, known as Transit Oriented Development (TOD), which experts say can be used to increase non-fare revenue for the projects.Speaking at the post-Budget webinar, BEML CMD Shantanu Roy said India needs to be self-reliant in manufacturing bullet trains and the manufacturing of the first two has already been initiated by the PSU. He said that in future the speed of these indigenous trains can be increased from 280 km per hour to 350 km per hour.Railway officials and experts said that for all future bullet train projects, the focus is on standardization of the entire system from construction to signaling and train manufacturing to enable economies of scale.
