Modi makes railways an attractive investment destination

By Ranjana Narayan

New Delhi : Indian Railways has become an attractive investment destination, especially with the Narendra Modi government pitching for modernisation and upgradation of one of the largest railway networks in the world with high-speed trains and modern stations with world-class amenities.

The prime minister’s recent interaction with the leaders of Japan and China has led to both inking agreements to invest in India’s mammoth railways network by way of high-speed trains and modernising stations. Teams from both Japan and China will be visiting India soon to study specific sectors before finalising agreements, said an official.

Japan has offered to provide financial, technical and operational support to India for introducing its bullet trains, called Shinkansen, on the Ahmedabad-Mumbai route.

The Japan International Cooperation Agency is conducting a feasibility study on the 530-km-long Mumbai-Ahmedabad route for running a bullet train at a speed of over 250 km an hour. The study will be completed by July 2015, Indian Railways spokesperson Anil K. Saxena told IANS.

The corridor with around seven stations is expected to cost Rs.60,000 crore (about $1,000) over six years, at Rs.10,000 crore a year. More info


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