• search
For Mumbai Updates
Allow Notification  

Goyal hopeful of getting enough land for bullet train project


Even as protests continue against the bullet train project in pockets of Maharashtra and Gujarat, railway minister Piyush Goyal today exuded confidence that he does not see "any stress" in getting the land needed for the ambitious project, primarily on the increased compensation that government is offering now.

Piyush Goyal

A senior government functionary also said Japan, which is almost fully funding the project with a soft loan, is increasing its funding to USD 5 billion per year from the earlier USD 3 billion.

"Environmental and social impact studies either have been completed or are near completion. I personally don't see any stress in getting the land (for the project)," Goyal told reporters here on the sidelines of the AIIB summit.

He said government is not facing any resistance on land acquisition ever since it increased the compensation to four times of the market value, and stressed that in the case of the Mumbai-Ahmedabad bullet train project, the same has been increased to five times if it is through consent.

Goyal also said he held detailed discussions with the chief ministers of both the states to expedite the project.

Addressing those who are protesting against the land acquisition, he claimed that people in both Palghar and Surat, which are witnessing protests at present, will stand to benefit from the project.

He drew parallels with the Beijing-Shanghai high speed rail project, and said the government wants we to develop the Mumbai-Ahmedabad stretch as a high growth zone just like the stretch between the two Chinese cities.

There'll be more high speed rail corridors in future, he said,adding the AIIB has evinced interest in such projects.

Goyal said the country has proposed nine infra projects, including four in the private sector, to the AIIB for funding which will entail an investment of USD 2.4 billion. The overall funding for the four private sector projects will be USD 860 million, he added.

At present, the AIIB has funded seven projects worth USD 1.4 billion since its formation in 2016, making the country as the biggest beneficiary.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more