The fare of Mumbai-Ahmedabad high speed rail network will be affordable to people and less than the airfare between the two cities, Railway Minister Suresh Prabhu said, adding the corridor is expected to be completed in six years. The high-speed train project would be cost-effective.
The high speed bullet train is expected to cover 508 km between Mumbai and Ahmedabad in about two hours, running at a maximum speed of 350 kmph and operating speed of 320 kmph. At present, Duronto Express takes about seven hours to cover the distance between Mumbai to Ahmedabad.
Railway Minister Suresh Prabhu said, “I would like to assure the House that the Government of India is spending more than double of any other year in the past on the Rail Development Infrastructure.”
“So, the money that is spent on high speed railways between Mumbai and Ahmedabad has nothing to do with the Railway Budget as a whole. You must have noticed that each State has got more than double the amount of the previous year for the last two years consecutively. So, this has been the practice,” he said.
Estimated to cost about Rs 97,636 crore, 81 per cent of the funding for the 508 km long Mumbai-Ahmedabad high speed rail corridor project will come in form of a loan from Japan. The project is being funded by Japan with a soft loan for 50 years at 0.1 per cent annual interest with 15 years’ moratorium.