September 28, 2018
New Delhi, September 28, 2018: Japan International Cooperation Agency (JICA) signed an agreement with the Government of India to provide an Official Development Assistance (ODA) loan of 89,547 million Japanese Yen (approx. INR 5,500 Crore) as Tranche 1 on the ‘Project for the Mumbai-Ahmedabad High-Speed Rail (MAHSR)'.
The objective of the Project is to develop a high-frequency mass transportation system by constructing the High-Speed Rail between Mumbai and Ahmedabad, using Japan's Shinkansen technology (also known as the "Bullet Train"), thereby enhancing mobility in India and contributing to regional economic development.
The ODA loan agreement was signed between Dr. C.S. Mohapatra, Additional Secretary, Department of Economic Affairs (DEA), Ministry of Finance, Government of India, and Mr. Katsuo Matsumoto, Chief Representative, JICA India.
Speaking on the occasion, Mr. Katsuo Matsumoto, Chief Representative, JICA India said, "India has witnessed strong economic growth in recent years, and with this growth has come a sharp rise in the volume of passengers and goods being transported in the country. Both Maharashtra and Gujarat states have been the nation's growth drivers, and MAHSR is expected to further support such economic pulse as had the Shinkansen done for Japan. Since the opening of Japan's first Bullet Train in 1964, there have been no fatal accidents thanks to the robust technology and restless pursuit of an excellent high-speed rail system by the Japanese engineers and railway operators, which grew into the Japan's famous ‘Shinkansen System'. The Shinkansen System has also contributed to regional wide economic and social development which brought about income generation to local residents. As for this MAHSR, extensive survey has been done for the environmental and social impact of the Project, and the Project shall be implemented adhering to JICA's environmental and social guidelines. With this Project, we aim to simplify mobility, ease connectivity and enhance regional economic development with a safe and reliable inter-city transport system."
The National High Speed Rail Corporation Limited (NHSRCL) is the Executing Agency of the Project.
A training institute, which will have the facilities and equipment to help trainees, will be set up so that operational and safety standards as well as the traveling experience will match the Shinkansen originals in Japan. Last year, in September 2017, JICA signed an agreement with the Government of India providing an ODA Loan of 10,453 million Japanese Yen (approx. INR 640 Crore) to develop a Training Institute at Vadodara, Gujarat, for the MAHSR.
Currently, in the railways sector, JICA is supporting the construction of the Western Dedicated Freight Corridor through extending ODA loans of 442,723 million Japanese Yen (approx. INR 27,200 Crore), so far, and JICA has recently initiated the Technical Cooperation under "Project for Capacity Development on Railway Safety" in August this year.
L-R: Mr. Katsuo Matsumoto, Chief Representative, JICA India with Dr. C. S. Mohapatra, Additional Secretary, DEA during the L/A Signing ceremony.
Established by a specific law as an incorporated administrative institution under the Government of Japan, the Japan International Cooperation Agency (JICA) aims to promote international cooperation as the sole Japanese governmental agency in charge of ODA implementation. JICA is the world's largest bilateral donor agency. JICA works as a bridge between Japan and emerging countries, and provides assistance in the form of loans, grants and technical cooperation, so that the emerging countries can strengthen their capabilities.
For further information, please contact: