The Indian and French Railways ministries on Thursday signed a Memorandum of Understanding (MoU) for Technical cooperation in the field of Railways, a government statement said on Friday.
The MoU was signed by Vinay Mittal, Chairman, Indian Railway Board and G Pepy, Chairman and CEO Socie'te' Nationale des Chemins de Fer Francais (SNCF), the French National Railways .
The MoU was signed in the presence of French Presudent Francois Hollande.
The four areas of cooperation identified under the MoU include high speed and semi-high speed rail, station renovation and operations, modernisation of current operations and infrastructure and suburban trains.
Under the High Speed Cooperation Programme, the parties have decided to carry out jointly an 'operations and development' feasibility project on the Mumbai-Ahmedabad High-Speed Rail. This project will be funded by SNCF with a support from the French Ministry of Finance, India said.
The MoU is valid for a period of five years and is extendable by one year with mutual consent. Specific cooperation projects would be undertaken under the MoU as agreed by both the parties.
The French delegation led by SNCF Chairman G Pepy is visiting Central Railway and Western Railway installations in Mumbai on Friday and holding meetings with the Railway officials.