At present, Mumbai-Ahmedabad Rail corridor is the only sanctioned High Speed Rail Project in the country and implemented with technical and financial assistance of Government of Japan. The estimated cost of the Project is Rs. 1,08,000 crore. Government of Japan has agreed to provide a soft loan of 81% of total project cost with 0.1% rate of interest per annum. The time period for repayment of loan is 50 years with 15 years grace period.
Six corridors on Diamond Quadrilateral connecting metropolitan cities and growth centres of the country (Delhi, Mumbai, Chennai & Kolkata) have been identified for feasibility study for high speed rail connectivity viz : (i) Delhi-Mumbai, (ii) Mumbai-Chennai, (iii) Chennai-Kolkata, (iv) Kolkata-Delhi and both diagonals i.e. (v) Delhi-Chennai and (vi) Mumbai-Kolkata routes.
(Adapted from pib)