Rs. 24,000 crore bullet train contract creates record

A government-funded civil contract of Rs. 24,000 crore (US$ 3.25 billion) was signed by the National High Speed Rail Corporation (NHSRCL) for the Ahmedabad-Mumbai bullet train project with Larsen and Toubro infrastructure (L&T). The construction company said they had deployed individuals on the ground to begin work.

Without waiting for Maharashtra to get the required land for this flagship project, PM Mr. Modi asked the railways to go ahead with the work in Gujarat and complete it.

Japanese Ambassador to India Mr. Satoshi Suzuki said that the contract was awarded for such a gigantic infrastructure project at a time when it was important to speed up economic activity. The project will lead to the transition to India of Japanese technologies and will also transform urban development along its corridor.

Mr. V K Yadav, CEO and Chairman of the Railway Board, stated that after the completion of this first bullet train project, more such train corridors would be taken up by the government on seven additional routes.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.