Railway Minister Suresh Prabhu said in his budget speech on Thursday that India Railways is taking assistance from the government of Japan to execute a high speed passenger corridor between Ahmedabad and Mumbai.
"A high speed passenger corridor from Ahmedabad to Mumbai is being undertaken with assistance from the government of Japan, " said Prabhu.
And to implement such high speed railway projects, Prbahu said Indian Railways will register a Special Purpose Vehicle (SPV) in February.
"A SPV for implementing high speed projects will be registered this month, " said Prabhu.
He said the prime benefits of the high speed passenger corridor will be providing Indian Railways with technological advancements and new manufacturing capability which can be leveraged for other areas of the existing network.
The planned 508 km high speed passenger corridor between Ahmedabad and Mumbai is expected to cost a total of Rs. 97, 636 crore and is slated to be built in seven years.
Shinkansen Technology, Japanese high speed rail technology will be incorporated in the project.