New Delhi, Nov 25 (UNI) The Government has formed a Special Purpose Vehicle (SPV) -- National High Speed Rail Corporation Limited (NHSRC) -- for implementation of the Mumbai-Ahmedabad High Speed Rail corridor project, the Rajya Sabha was informed today. This SPV was formed in February 2016, Minister of State for Railways Rajen Gohain said in a written reply. The target for commissioning the project is 2023-24 with an estimated cost of Rs 97,636-crore. The Japanese Government has agreed to provide Japanese (Yen) loan up to 81 percent of the project cost at 0.1 percent per annum, to be repaid in 50 years with 15 years' moratorium, he informed. Work on scheduled activities such as appointment of general consultant, final location survey and training of officials have commenced. The project had been sanctioned with 50 percent equity participation by Railway Ministry and 25 percent each by the Governments of Maharashtra and Gujarat, Mr Gohain stated. UNI RBE RSA SNU 1726