Plans for World's Fastest Train Service Delayed as Japan Ditches 2027 Target [BNN Bloomberg (Canada)]
CENTRAL JAPAN RY UNSP/ADR (CJPRY)
NASDAQ:AMEX Investor Relations:
english.jr-central.co.jp/company/ir/index.html
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Source: BNN Bloomberg
The rail operator has been unable to start construction in Shizuoka, even though six years have passed since the signing of a construction contract for a tunnel in the prefecture. The ¥9 trillion ($59.5 billion) project has long faced opposition from the local government because of concerns that the excavation of the tunnel will impact river water levels. Japan is known for its fast bullet trains, part of the country's robust train infrastructure. In 2016, the government approved a ¥3 trillion loan to help Central Japan Railway fund the Chuo Shinkansen maglev line, which promised to ferry passengers between Tokyo and Nagoya in roughly 40 minutes. The Shizuoka construction issue “is directly linked to the launch delay” in 2027, Central Japan Railway said. “While we cannot foresee a new opening date at this time, we will continue to do everything in our power to ensure that it opens as soon as possible.” The project had eventually sought to link the capital with Osaka in 2037 wit
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- Japan Governor Opposing High-Speed Bullet Train to Resign [BNN Bloomberg (Canada)]BNN Bloomberg