India and Japan signed three Memorandum of Understandings (MoUs) during December 11-13, 2015 for cooperation in the Railway Sector. The details of cooperation envisaged in the three Memorandums are as follows:
- MoU on cooperation and assistance in the Mumbai – Ahmedabad High Speed Rail Project(referred by many as Bullet Train 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.
- Memorandum of cooperation between Ministry of Railways (India) and Ministry of Land, Infrastructure, Transport and Tourism (Japan) for technological cooperation in the areas like Railway Safety; Railway Electrification; Civil structure and railway track system; Mitigation of natural disasters; etc.
- MoU for technical cooperation between RDSO and Railway Technical Research Institute, Japan in areas like Safety in train operation; Advanced techniques of maintenance; Use of environment friendly technologies; etc.
-Ministry of Railways