Updated By: LatestGKGS Desk
India & Japan signed loan agreement for Mumbai-Ahmedabad High Speed Rail Project
India & Japan signed a loan agreement for construction of Mumbai-Ahmedabad High-Speed Rail Project: Details, Objectives, Highlights
India and Japan on 28th September 2018 have signed a loan agreement for Construction of Mumbai-Ahmedabad High-Speed Rail Project (I) and Kolkata East-West Metro Project (III) with Japan International Cooperation Agency (JICA).
The loan for construction of Mumbai-Ahmedabad High-Speed Rail Project was made for Rs.5591 crores and Kolkata East-West Metro Project (III) for Rs.1619 crores.
The objective of the Mumbai-Ahmedabad High-Speed Rail Project (I) is to develop mass and high frequent transportation system by constructing high-speed rail between Mumbai and Ahmedabad with the use of Japanese high-speed rail technologies, i.e improving the connectivity in India.
The objective of the Kolkata East-West Metro Project (III) is to cope with the increase in traffic demand in Kolkata metropolitan area by extending the mass rapid transit system and improving urban environment through mitigation of traffic jams and a decrease of pollution caused by increasing motor vehicles.
