Japan will provide India a loan for 50 years for the construction of the railway

Japan will provide India a loan for 50 years for the construction of the railway

NEW DELHI, December 12. /Corr. Alexander Antipin/. Japan will provide India a soft loan for the construction of high-speed railway between the cities of Mumbai (Maharashtra) and Ahmedabad (Gujarat). On Saturday here the journalists said the first Deputy Minister of foreign Affairs of India Subramaniam, Jaishankar.

According to him, “the loan will be granted in India for a period of 50 years.” “Preferential loan interest rate of 0.1%”, – he said at a press conference following the talks, Prime Minister Narendra modi and his Japanese colleague Shinzo Abe in new Delhi. According to the feasibility study of the project, its implementation will take 7 years”.

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In India will be built the first branch of the high-speed train using Japanese technology

The cost of the railway line estimated at approximately $15 billion On line 505 km walk superexpress the “Shinkansen”. Construction is scheduled to begin in 2017 and be completed by 2023. The maximum speed on this stretch will be 320 km per hour, which will reduce the journey between Mumbai and Ahmedabad from 8 to 2 hours. The project cost is estimated at $14.6 billion.

Tokyo active in the field of infrastructure projects around the world, but to successfully sell its technology “Shinkansen” has so far succeeded only in Taiwan. Serious competition to Japan is China, which often offers cheaper projects. Thus, on 29 September it became known that from-for financial difficulties, Indonesia has renounced the Japanese high-speed rail project Jakarta-Bandung in favor of the proposals made by the Chinese side. In 2010 Vietnam, one more attractive to Japan’s infrastructure market, refused to build high-speed railway line because of its prohibitive price – $56 billion At present, Japan is planning to get contracts for the creation of lines “Shinkansen” in the United States and Malaysia.