Modi's bullet train project gets green light

Prime Minister Narendra Modi's dream project -- the Mumbai-Ahmedabad bullet train has been shown the green light with the formation of the company tasked with taking the project forward -- the National Highway Speed Rail Corporation Limited.

The Prime Minister's Office also has two other two routes in mind -- Chennai-Bengaluru and Varanasi-Kolkata.

These three projects are likely to cost more than Rs 1 lakh crore as the trains have to ply on specially-constructed elevated platforms. The construction is likely to be on the pattern of the metro rail projects across many Indian cities.

Chinese and French companies have already shown interest in these three projects.

The PMO is also keen that these projects be completed before the 75th Independence day in 2022.

The mandate for the company is to first identify three such bullet train prototypes and then float tenders. Since this is a gigantic task with huge investment, the PMO is keen to monitor the progress of the project. The Indian Railways has initiated a global hunt to recruit top management for the newly-formed company.