Bullet trains will boost employment, help India to export it: Railways Minister

Coal Supply For Power Plants To Improve Over 15-20 Days Goyal

With Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe set to lay the foundation for the bullet train in Ahmedabad on September 14, ambiguity continues over a plot of land that railway is seeking in Mumbai for building terminal for the project as Maharashtra government is not willing to part with being a designated site for construction of International Financial Services Centre (IFSC).

Railway Minister Piyush Goyal said the fare of the high-speed bullet train would be "affordable for all". Speaking about the project, Goyal said it will not only boost employment but in future India will be able to export it too.

"Indian is lagging when it comes to using modern technology and globally discarded technology was used for planning progress of Indian Railways in the past", said Goyal.

The Railway Minister said that the high-speed rail was envisioned by Modi to take Indian Railways towards "most modern technologies like developed countries".

"This loan is to be repaid to Japan in 50 years". "Repayment of loan is to begin after 15 years of receiving the loan, making it practically free since, this loan interest works out to roughly Rs 7-8 crore per month", said a railway statement.

Apart from this project, various MoUs related to investments and tie-ups would also be signed in the presence of these leaders, the official said, adding that bilateral talks will also be held between the two here.

The high speed train will also pass through the country's biggest tunnel of 21 km, of which seven km will be under the sea. "It has been a zero accident train in Japan and I am sure the track record will remain the same in India", he said. It is expected to become operational by 2023. Its maximum operating speed will be 320 km per hour.

The 500-km railway will link Mumbai and Ahmedabad in western India, with services planned to commence in 2023.

If the bullet train will stop at all 12 stations, then it will cover the distance in two hours and fifty-eight minutes.

"A total of 24 high-speed trains will be imported from Japan and then rest of the rakes will be manufactured in India", Mishra said.

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