Railway Minister Suresh Prabhu yesterday said the Mumbai-Ahmedabad Bullet train being built with Japanese assistance will be more or less in the self-financing mode and will significantly help the public transporter in upgrading its technology.
“This (Bullet Train project) is a stand-alone project. This project is more or less on the self-financing mode. The Japanese Government has decided to give us almost the entire most at an interest rate of 0.1 per cent to be repayable in 50 years and for the first 15 years we do not have to service it...So, if you ask a banker he will tell you that it is not only free but it is more than that,” Prabhu said in the Lok Sabha. He added that the Railways will seek Japan’s assistance for other projects too.