MUMBAI: A day before Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe perform the ground-breaking ceremony for India’s first high-speed bullet train between Mumbai-Ahmedabad, the Maharashtra government Wednesday agreed to allocate 0.9 hectares of land at the Bandra-Kurla Complex (BKC) required for the railway station, but with certain conditions.
A Government Resolution (GR) issued by Home Department (Transport) Tuesday has specified that the cost of the land at BKC to be allocated by the Mumbai Metropolitan Region Development Authority (MMRDA) should be considered “included” in the state government’s share in the project.
The state has asked the Centre and the Railways to adjust the Rs 125 crore preliminary share of the state in the bullet train project in the cost of the land in BKC.
Besides, a senior official from the Chief Minister’s Office told the New Indian Express that the state government wants Japan International Cooperation Agency to fund the Mumbai-Nagpur bullet train project on the same lines as the Mumbai-Ahmedabad project. The Railways will conduct a feasibility survey for the Mumbai-Nagpur bullet train project and give its approval.
The state also wants the Centre and the Railways to ensure that the entry and exit of the bullet train station and ventilation system are constructed within the 0.9 hectares plot allocated by the MMRDA.
The GR states that the Railway Ministry should first explore the viability of an alternate site recommended by the state at the BKC itself. However, if the alternate site is not viable, only then the 0.9 hectare land at BKC should be considered. The state government, making matters cumbersome for the Railways, has already approved the allocation of 50.31 hectares of land at BKC for the IFSC.
The estimated cost of the 508 km Mumbai-Ahmedabad bullet train project is pegged at Rs 1,08,000 crore for which the Japanese government will give a 50-year loan at 0.1 per cent interest.
The project involves a share component of 50 per cent by the Railways and 25 per cent each by Maharashtra and Gujarat.
A Special Purpose Vehicle to be set up for the construction of the project will have a share capital of Rs 20,000 crore, of which Maharashtra’s share will be Rs 5,000 crore. Of the initial deposit of Rs 500 crore towards the share capital, the state’s initial share shall be Rs 125 crore.