April 14: Work on India’s first high speed train project will begin in January 2019, and the land acquisition for the 508 km long Mumbai- Ahmadabad bullet train is expected to be concluded by the end of the year 2018. As per the official statements quoted by news reports, the mega project worth Rs 1.08 lakh will be completed by 2022.
Achal Khare, Managing Director, National High Speed Rail Corporation (NHRC), has been quted by news sources as saying that Indian Railways, at a cost of Rs 10,000 crore, will acquire over 1,400 hectares of linear land in Maharashtra and Gujarat. The National High Speed Rail Corporation (NHRC), which is in charge of train operations on high speed corridors, is the implementing agency for the mega project.
Land acquisition for the project has begun in Mumbai, with the arrival of funds from the Japanese International Cooperation Agency. A soft loan of Rs 88,000 crore at an annual interest rate of 0.1% for a period of 50 years will be provided by Japanese International Cooperation Agency for the project.
In the initial stage bullet, which can carry 700 passengers on each trip, will operate 35 trips each way between Mumbai and Ahmadabad. One way ticket for the upcoming train, with special business class category, is likely to be around Rs 300. The minimum fare to travel in the train will be Rs 250.
Achal Khare, Managing Director, National High Speed Rail Corporation said that the agency want to keep the prices lower than that of the airlines. He addressed the train as an advantage to the people of Mumbai as it will take them from Thane to Bandra Kurla Terminal at Rs 250.
NHRC will provide the services of 24 train sets with 10 coaches each at first. The agency intends to increase the number of the trains as per the demands. Stating that the average potential of the project commuting both fuel and manpower cost will be Rs 1,000 crore, the agency expects a return of around 4% on the operational cost.