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.