Gujarat govt signs Rs 67k cr MoU for Ahmedabad-Mumbai bullet train project

Source: Business Standard, Jan 12, 2017

Gandhinagar: The Gujarat government on Thursday signed a memorandum of understanding (MoU) worth Rs 67,000 crore with the National High Speed Rail Corporation Limited (NHSRCL) during the Vibrant Gujarat Global Summit here for component manufacturing for the Ahmedabad-Mumbai bullet train project.“We have signed a MoU with the Railways today. The authority will manufacture bullet train in the state and this will generate about Rs 67,000 crore business here,” said Gujarat Chief Minister Vijay Rupani.

Gujarat government will bear 25 per cent of the total project cost of bullet train project and will provide land and facilitate implementation of the project. Total cost of the entire project is estimated at Rs 97,000 crore at a project schedule of six years.

Rupani said, “This agreement will benefit micro, small and medium enterprises (MSMEs) of Gujarat and generate huge orders from this project for them.”

In addition, Indian Railways also signed a MoU for setting up a container depot at an investment of Rs 100 crore at Rajkot.

“Exports from Saurashtra region is huge and there was a need for better transportation facility for exporting units through rail network,” said Rupani. “Hence, we have signed a MoU for a container depot in Rajkot, for which Indian Railways will invest Rs 100 crore.”

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