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Wednesday, December 9, 2015

Japan pips China to build India’s first bullet train Wednesday Dec 09,2015

 
Rs 98,000 crore project was cleared by the cabinet on Wednesday Dec 09,2015

• The deal is expected to be announced during Japanese premier Shinzo Abe's visit

• Japanese PM Shinzo Abe will arrive on Friday on a three-day visit to hold annual summit talks with Narendra Modi 

The bullet train accident in China four years ago along with low-cost finance and a promise to have a substantial 'Make in India' component and transfer of technology clinched the deal for Japan to build the first high-speed train that will run between Mumbai and Ahmedabad — with the possibility of extending it to Delhi in future.

Of the total project cost, around Rs 17,000-18,000 crore would be the cost of land.

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