The Mumbai-Ahmedabad High-Speed Rail (MAHSR), also known as Bullet Train Project will be completed by 2023, Railway Minister Piyush Goyal said in the Rajya Sabha today.
In a written reply, Piyush Goyal said that the bullet train project that spans across 508 kilometres, 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.
So far, the expenditure of Rs 3226.8 crore has been incurred on the project up to June 2019, he said in his statement.
Asked when the government will expand the bullet train network all over the country, Mr 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".