Japan is expected to win the contract to construct bullet train in India, after losing deal with Indonesia high-speed rail to China.
Japan will offer ($8.11 billion) in loans to build India’s Rs 98,000 crore fast bullet train project.
Japan recently lost the proposal to build Indonesia’s fast-train because Beijing provided a $5 billion loan without any security.
Construction of the high-speed railway project will start from year 2017 and expected to complete within 2023.
In September, China won the contract to review the possibility of a high-speed train between Delhi and Mumbai, 1,200-km way estimated to cost double.