Lok Sabha Question No. 124 (UNSTARRED), answered on 2016-02-24
Subject: Bullet Train Project
Ministry: RAILWAYS
Asked by: DHANANJAY BHIMRAO MAHADIK, VINAYAK BHAURAO RAUT, KUNWAR HARIBANSH SINGH, SHRIKANT EKNATH SHINDE, SUDHEER GUPTA, NAGENDRA KUMAR PRADHAN, RAYAPATI SAMBASIVA RAO, BIDYUT BARAN MAHATO, GAJANAN CHANDRAKANT KIRTIKAR, SUNIL BALIRAM GAIKWAD, JAYAKUMAR JAYAVARDHAN, RAJESHBHAI NARANBHAI CHUDASAMA, RAHUL RAMESH SHEWALE, KUNWAR PUSHPENDRA SINGH CHANDEL

## GOVERNMENT OF INDIA MINISTRY OF RAILWAYS

## LOK SABHA

## UNSTARRED QUESTION NO. 124

TO BE ANSWERED ON 24.02.2016

## BULLET TRAIN PROJECT

124.     SHRI DHANANJAY MAHADIK:

SHRI VINAYAK BHAURAO RAUT:

KUNWAR HARIBANSH SINGH:

DR. SHRIKANT EKNATH SHINDE:

SHRI SUDHEER GUPTA:

SHRI NAGENDRA KUMAR PRADHAN:

SHRI RAYAPATI SAMBASIVA RAO:

SHRI BIDYUT BARAN MAHATO:

SHRI GAJANAN KIRTIKAR:

DR. SUNIL BALIRAM GAIKWAD:

DR. J. JAYAVARDHAN:

SHRI RAJESHBHAI CHUDASAMA:

SHRI RAHUL SHEWALE:

SHRI KUNWAR PUSHPENDRA SINGH CHANDEL:

Will the Minister of RAILWAYS be pleased to state:

- (a) whether the Government has decided to set up a separate company on the lines of the Delhi Metro Rail Corporation for Mumbai-Ahmedabad high speed Bullet Train Project;
- (b)
- if so, the details thereof and the salient features of the project;
- (c) whether    the  State  Governments  are  proposed  to  be  involved  in  this project and if so, the details thereof, State-wise;
- (d)  the  ratio  of  equity  participation  between  Union  Government  and  State Governments including Maharashtra and Gujarat in this company and the number  of  stations  that  the  corridor  is  likely  to  have  along  with  the expected time between Mumbai and Ahmedabad; and
- (e)  the  funds  allocated  by  the  Government  for  this  project  along  with  the sources of funds to be generated, and the steps taken/being taken by the Government for timely completion of the project?

## ANSWER

MINISTER OF STATE IN THE MINISTRY OF RAILWAYS

(SHRI MANOJ SINHA)

- (a) & (b): Ministry of Railways have formed a new Special Purpose Vehicle

(SPV) named National High Speed Rail Corporation Limited to implement the project.

The salient features of Project are:  Total length of corridor - 508 kms .  Maximum design speed of 350 kmph and operating speed of 320 kmph.  In 2023, approximately 13 million passengers per annum.  The total journey time of a fast train will be 2.07 hrs.  Total  Project  cost  is  estimated  to  be  ₹  97,636  crore  (including  price escalation, Interest During Construction (IDC) and import duties) - 81% of the project cost funded by Government of Japan loan for 50 years at 0.1% per annual interest with 15 years moratorium periods. Governments of Maharashtra and Gujarat)

(c)  &  (d):  State  Governments  of  Maharashtra  and  Gujarat  have  been requested to participate in the equity of the SPV which will implement the project. (Ministry of Railways 50% equity, and balance contributed by State (e): Government of Japan has agreed to provide loan covering approximately 81% of  total  project  cost  at  0.1%  per  annum  interest  for  50  years  with  15 years  moratorium. For  timely  completion  of  project,  a  Joint  Committee  has been formed under Vice Chairman of NITI Aayog with Secretary Department of  Industrial  Policy  &  Promotion  (DIPP),  Secretary  Department  of  Economic Affairs,  Foreign  Secretary  and  Chairman  Railway  Board  as  members  to monitor the project.

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