To help each other in technological advancement and upgradation in the railway sector.
During the recent official visit (December 11-13) of Japanese Prime Minister, Shinzo Abe, the two countries signed an MOU on cooperation and assistance in the Mumbai – Ahmedabad High Speed Rail Project (also called the Bullet Train project).
The two countries have also entered into two comprehensive technological cooperation agreements for modernisation and upgradation of the Indian Railways
MOU on cooperation and assistance in the Mumbai – Ahmedabad HSR Project
Japan has offered an assistance of over Rs 79,000 crore for the project. The loan is for a period of 50 years with a moratorium of 15 years, at an interest rate of 0.1 per cent. The project is a 508 km railway line
costing a total of Rs 97,636 crore, to be implemented in seven years.
MOU on technological cooperation between RDSO and Railway Technical Research Institute Japan
The main directions of cooperation between the parties shall be the development of rail-related technical cooperation in which the Parties may have mutual interest, performance of consultation and other services. The broad areas of technical cooperation may include: Safety in train operation, Advanced techniques of maintenance, Use of environment friendly technologies, Throughout enhancement measures and any other area jointly agreed upon by the parties.
MOC between Ministry of Railways and MLIT, Japan on technological cooperation
Bearing in mind the friendly relations that exist between the two countries, this Memorandum of Co-operation (MOC) is a step towards strengthening and promoting all-round technological development between the two sides and recognise the benefit to be derived from such enhanced cooperation.