Finmin signs MoU with Japan for bullet train training centre

NEW DELHI: The finance ministry today signed an agreement with Japan to set up a training institute for Ahmedabad-Mumbai bullet train project along with others pacts, envisaging a total loan commitment of about Rs 6,000 crore.

The training institute will help develop the human resources equipped with high level knowledge for the operation of Ahmedabad-Mumbai High Speed Railway. For this Japan has committed loan of 10.45 billion Yen (about Rs 606 crore), an official statement said.

The countdown to India's first bullet train from Ahmedabad to Mumbai began today with Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe launching the Rs 1.10 lakh crore project.

To improve the connectivity in North Eastern Region of India through improving roads and bridges, Japan will provide a loan of 38.66 billion yen (about Rs 2,242 crore).

This project consists of the construction work of NH-40 (in Meghalaya) and NH-54 (bypasses in Mizoram), it said.

For up-gradation of existing ship recycling yard at Alang, Gujarat Rs 494 crore loan agreement was signed at Gandhinagar during the visit Japanese Prime Minister Shinzo Abe.

In order to cope with the increase of traffic demand in Kolkata metropolitan area by extending the mass rapid transit system, Japan under the Official Development Assistance (ODA) will provide 25.903 billion yen or about Rs 1,502 crore.

Another ODA of Rs 975 crore was committed to improve investment climate in Gujarat by improving infrastructure facilities.

Besides, for setting up of Varanasi Convention Centre, India would get grant amount of 2.24 billion yen or about Rs 130 crore.