Mumbai-Ahmedabad bullet train project chugs ahead: Ghansoli-Shilphata section of 21 km undersea tunnel ready
Out of the total 21 km of tunnel, 5 km between Shilphata and Ghansoli in Maharashtra was constructed using the New Austrian Tunnelling Method (NATM), while the remaining 16 km is being built using Tunnel Boring Machines (TBMs).
The tunnel also includes a 7-km-long undersea section beneath Thane Creek.
The statement said the high-speed train project recently achieved another milestone: constructing a 310 km viaduct.
'Track laying, construction of overhead electrical wires, stations, and bridges is going on at a rapid pace,' it added.
The entire 508 km Mumbai-Ahmedabad bullet train corridor – 352 km in Gujarat and 156 km in Maharashtra – is being developed with Japanese Shinkansen technology.
After the completion of the project, next-generation E10 trains are likely to run on the high-speed tracks.
'Japanese Shinkansen is currently running E5 trains. Next generation trains are E10. In the spirit of strategic partnership between Japan and India, the Japanese government has agreed to introduce E10 Shinkansen trains in the Mumbai-Ahmedabad bullet train project,' the statement said.
It is noteworthy that E10 will be introduced simultaneously in India and Japan.
The success of the Mumbai-Ahmedabad High-Speed Rail (MAHSR) project is laying the foundation for future bullet train corridors in India. As per the statement, future corridors are also under active consideration.
The work on the Mumbai-Ahmedabad high-speed bullet train project is going on in full swing in Maharashtra, with major structural and tunnelling milestones being achieved, the National High-Speed Rail Corporation Limited (NHSRCL) said on Saturday.
According to the NHSRCL, work on all three elevated stations in the state — Thane, Virar, and Boisar — is advancing swiftly, and the first slabs for Virar and Boisar stations have recently been cast.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
3 hours ago
- Mint
JGBs fall after weakest auction in 5 years spurs sell-off
TOKYO, Aug 13 (Reuters) - Japanese government bonds dropped on Wednesday after a five-year bond auction drew the weakest demand in more than five years, triggering a wave of selling by investors. The five-year yield rose 3 basis points (bps) to 1.070%. The 10-year JGB yield rose 2.5 bps to 1.525%. Yields move inversely to bond prices. The lacklustre auction followed a session in which the 10-year JGBs untraded all day, reflecting thin liquidity during Japan's "Obon" holiday season. "The market was worried about the liquidity and hesitated to participate in the auction," said Katsutoshi Inadome, a senior strategist at Sumitomo Mitsui Trust Asset Management. The auction received bids worth 2.96 times the amount sold, the lowest ratio since March 2020, and lower than a ratio of 3.54 times at the previous auction in July. The level of the five-year bond yield was not high enough, so that the market was afraid to buy bonds in case the yield rises in the coming sessions, said Miki Den, a senior Japan rate strategist at SMBC Nikko Securities. JGB yields have eased from their highs in July as expectations of a rate hike by the Bank of Japan receded, following the central bank's caution over persistent risks to the economic outlook. The two-year JGB yield rose 1.5 bps to 0.785%. Yields on longer-dated bonds fell, with 20-year JGB yield slipping 0.5 bp to 2.515%. The 30-year JGB yield fell 0.5 bp to 3.085%. The 40-year JGB yield fell 1.5 basis points to 3.285%. (Reporting by Junko Fujita; Editing by Sherry Jacob-Phillips)
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
Asian stocks rise as Fed rate cut bet lifts market; Nikkei hits record high
Stocks in Asia climbed and the US dollar was subdued on Wednesday, as data showed both resilience in major economies and the need for central banks to remain accommodative. Wall Street scaled new heights on Tuesday, driven by increasing certainty the Federal Reserve will cut interest rates next month. Japan's Nikkei broke through the 43,000 level for the first time and cryptocurrency ether rose to an almost four-year high. The highly-anticipated US inflation readings indicated President Donald Trump's tariff regime had yet to filter down to consumer prices. In Japan, a report showed manufacturers grew more confident about business conditions after a trade agreement with the United States. "It's clear that almost any good news leads investors to pile money into markets, particularly tech stocks, despite their lofty price tags," Paco Chow, dealing manager at Moomoo Australia and New Zealand, wrote in a note to clients. "They're riding on 95 per cent odds of a Fed rate cut in five weeks and feeling comfort that inflation is only creeping higher, not running amok," Chow said. The MSCI All Country World Index of shares climbed for a second day to reach 948.54, a new all-time high. Japan's Nikkei stock index rose 1.4 per cent, also setting a new peak for a second-straight session. US Labor Department data showed the consumer price index rose 2.7 per cent in the 12 months through July, slightly below the 2.8 per cent rate that economists polled by Reuters had forecast. A Reuters Tankan poll that tracks the Bank of Japan's quarterly tankan business survey showed Japanese manufacturers' sentiment index improved for a second straight month. Another report showed Japan's wholesale inflation slowed in July, underscoring the central bank's view that upward price pressure from raw material costs will dissipate. On Wall Street, the benchmark S&P 500 and the Nasdaq hit record highs after President Trump signed an executive order pausing triple-digit levies on Chinese imports for another 90 days. Traders are pricing in a 94 per cent chance of a Fed cut in September, up from nearly 86 per cent a day ago and about 57 per cent a month earlier, according to the CME FedWatch tool. Investors had been on tenterhooks about the inflation data because it followed a surprisingly weak jobs report on August 1 and had the potential to stoke concerns about stagflation. Trump has nominated White House adviser Stephen Miran to temporarily fill a vacant board seat at the US central bank, stirring up speculation about presidential interference in monetary policy. And the White House said it was "the plan" that the Bureau of Labor Statistics would continue to publish its closely watched monthly employment report after Trump's pick to head the agency E.J. Antoni proposed suspending its release. Speculation the labour report would be halted has "done the USD no favours and would have only incentivised foreign investors to review their hedging ratios on US investments," Chris Weston, head of research at Pepperstone, said in a note. The dollar was little changed at 147.84 yen. The euro edged up 0.1 per cent to $1.1684, after a 0.5 per cent jump in the previous session. The dollar index, which tracks the greenback against a basket of major peers, slid for a second day. Ether touched $4,634.70, the highest since December 2021, in early trading before sliding 0.9 per cent. US crude dipped 0.05 per cent to $63.14 a barrel. Spot gold was little changed at $3,348.1 per ounce. In early trade, pan-region Euro Stoxx 50 futures were up 0.2 per cent, German DAX futures rose 0.3 per cent and FTSE futures climbed 0.1 per cent. US stock futures, the S&P 500 e-minis, were little changed. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
4 hours ago
- Economic Times
First the Japanese, then digital and now debt: The 130-year-old Kodak, which survived one bankruptcy, may have just 12 months to survive
Synopsis Eastman Kodak, the 130-year-old photography giant, is facing financial uncertainty, raising concerns about its ability to continue operations due to upcoming debt obligations. The company's shares plummeted after it revealed a lack of sufficient financing to cover its debts. Despite efforts to restructure and focus on commercial printing and pharmaceutical manufacturing, Kodak is still grappling with financial challenges. AP Founded by George Eastman in 1880, Kodak revolutionized photography in the early 20th century with products like the Brownie and Instamatic cameras and its signature yellow-and-red film boxes. The 130-year-old Eastman Kodak Co. has warned there is 'substantial doubt' about its ability to continue operating, citing potential difficulties in meeting upcoming debt obligations. Shares of the iconic photography company tumbled more than 13% in early trading on Tuesday after Kodak disclosed in a regulatory filing that it has debt maturing within the next 12 months but lacks committed financing or sufficient liquidity to cover it under current terms. As of June 30, Kodak reported $155 million in cash and cash equivalents, with $70 million held in the U.S. Last year, the company announced plans to terminate its retirement income plan to reduce debt. Chief Financial Officer David Bullwinkle said Monday that Kodak expects to determine by Friday how it will fulfill obligations to all pension plan participants, with the reversion process targeted for completion by December. Founded by George Eastman in 1880, Kodak revolutionized photography in the early 20th century with products like the Brownie and Instamatic cameras and its signature yellow-and-red film boxes. However, it was eventually undone by fierce Japanese competition and its failure to adapt quickly to the digital era. Kodak filed for bankruptcy protection in 2012, burdened by mounting debt and the rise of digital photography. The company shed many businesses and patents, shuttered its camera manufacturing operations, and reemerged a year later as a smaller firm focused on commercial and packaging printing. Today, Kodak is nearing completion of a new manufacturing plant for regulated pharmaceutical products, expanding on its existing production of unregulated key starting materials. Operations at the upgraded facility are slated to begin later this year.
