Tokya: Japan is glad to build India’s first bullet train with Tokya financing the latest project through an $8 bilion loan to New Delhi, a leading Japanese business daily reported Tuesday.
The first bullet train in India will link the cities of Mumbai and Ahmebabad and the both the countries will issue a joint statement regarding the deal on Saturday during Prime Minister Shinzo Abe’s visit to India. PM Modi will be hosting a meeting with PM Shinzo in India.
According to the media reports earlier Japan failed to win a high speed train deal in Indonesia this year, losing out a Chinese proposal.
The Japanese officials stated that a deal with India would be their second successful case of Japan exporting its bullet train technology to a foregin market, following a deal with Taibwan in 2007.
India`s vast rail network runs 12,000 trains a day, carrying 23 million people and connecting about 8,000 stations, but has suffered decades of neglect at a time of rapid economic growth during which car ownership has surged and low-cost airlines have mushroomed.
