Satish Kumar, Chairman and Chief Executive Officer of the Railway Board has mentioned that the Mumbai-Ahmedabad High-Speed Rail project cost has escalated to approximately Rs 1.98 lakh crore which is nearly double the original estimate due to the delays in project.
The Mumbai-Ahmedabad bullet train project was estimated to cost Rs 1.08 lakh crore. The Japan International Cooperation Agency (JICA) is financing Rs 88,000 crore at low interest rates. Reports indicate that the Indian government will cover any cost overruns, as JICA will not provide extra funds.
During a briefing on the 50th meeting of the Pro-Active Governance and Timely Implementation, or PRAGATI, framework, Kumar mentioned “For the NHSRCL high-speed project, I just wanted to mention that while the final sanction of the second revised estimate is yet to be done, approximately it would be around Rs 1.98 lakh crore,”.
Satish Kumar also mentioned that the revised amount remains under review and awaits final Cabinet approval. He further added that the revised amount will be approved shortly within a month or two.
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