As per the final feasibility report by the Japanese governmental agency, Mumbai-Ahmedabad Bullet Train Project would cost nearly Rs 1 lakh crore and the first train is expected to run in the year 2024 (if the work begins in 2017).
The report submitted to the Railway Ministry by the Japan International Cooperation Agency, predicts a reduction in the travel time between Mumbai and Ahmedabad from the existing 7 hours to 2 hours. The speed of the bullet train would be over 300 km per hour.
The report estimates that the project will cost Rs 98,805 crore and the train fare could also get higher than that charged for the First AC cabin of Rajdhani Express.
An official said that the Railways department would examine the report thoroughly and decide the future course of action.
A Cabinet note seeking approval for the bullet train project is likely to be prepared next month. This note would outline the project feasibility and timelines.
Report says that if the work begins in 2017, the line would be completed and made operational in 2023 and 2024 respectively.
Also, the final report suggests the fare of this bullet train that will run between Mumbai and Ahmedabad may be around one and half times more than that of the first AC of Rajdhani Express. The approximate cost would be almost INR 2,800.
By 2023, nearly 40,000 passengers are likely to avail this service every day and thus, it would be a financially viable service.
The initial estimated cost of INR 65,000 crore has gone up after considering various factors like interest and price escalation.
The Japanese agency recommended that the line must be constructed on the internationally accepted standard gauge, as high-speed running of nearly 300 kmph is basically done on the standard gauge all around the world.