The Mumbai-Ahmedabad High-Speed Rail (MAHSR), popularly known as the country's first Bullet Train Project, has been sanctioned with a target to be completed by 2023, said the railway minister Piyush Goyal on Friday.
In a written reply to Dr Vikas Mahatme in the Rajya Sabha, the Railway Minister Piyush Goyal informed that the MAHSR project of 508-kilometre length has been sanctioned by the Government.
"This project is being executed by a special purpose vehicle namely National High-Speed Rail Corporation Limited (NHSRCL), with the financial and technical assistance from the Government of Japan. The total estimated cost of the project is Rs 1,08,000 crore," he said.
He also mentioned in its statement that a total expenditure of Rs 3,226.8 crore has been incurred on the project up to June 2019.
In response to the question of when the Government plans to expand the bullet train network all over the country, Goyal said: "Bullet Train or High-Speed Rail Projects are highly capital and technology-intensive, and therefore, their proposals for other sections are subject to technical feasibility, financial and economic viability and availability of funding".