During the ongoing Vibrant Gujarat Summit 2017, the government of Gujarat inked a memorandum of understanding (MoU) with High Speed Rail Corporation (HSRC), under the Ministry of Railways, for the Mumbai-Ahmedabad bullet train project.

Under the agreement, an amount of Rs 77,000 crore will be invested in Gujarat for the bullet train project.

The estimated cost of the project is Rs 1.10 lakh crore, of which the state government will get 70 percent share. The bullet train is expected to cover 508 km between Mumbai and Ahmedabad in around two hours. The project is likely to be completed by the 2023.

Another MoU was signed to set up a training centre at Gandhinagar to provide training to engineers and employees associated with the bullet train project.

A third MoU was signed between the state government and Railways to set up a container depot in Rajkot, for which Railways will make an investment of Rs 100 crore.