Railways rules out renegotiating loan for bullet train amid rising costs

Amidst growing concerns of cost escalation of the Mumbai-Ahmedabad bullet train project, the Railways on Friday said there was no renegotiation of its terms and conditions with the Japanese agency which is funding 81 per cent of the total project cost.

The high speed rail network is estimated to cost Rs 1.1 trillion including the purchase of 24 train sets, interest during construction and import duties.

The Japanese International Cooperation Agency (JICA) is funding 81 per cent of the total project cost, through a loan.

The National High Speed Rail Corporation Limited (NHSRCL), the implementing agency for the project has