Construction cost +1.5 trillion yen

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jok
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Joined: 3. Apr 2021, 16:07

Construction cost +1.5 trillion yen

Post by jok »

Central Japan Railway Company: The Construction costs of the Central Linear Railway between Shinagawa and Nagoya are expected to increase by 1.5 trillion yen

On April 27, JR Tokai President Shin Kaneko held a press conference in Nagoya, Japan. He announced that the total construction cost of the Linear Central Shinkansen (between Shinagawa and Nagoya) is expected to increase by 1.5 trillion yen from 5.52 trillion yen to over 7 trillion yen.
JR東海の金子慎社長は27日、名古屋市で記者会見し、リニア中央新幹線のうち、品川・名古屋間の総工事費の見通しについて、これまでのおよそ5兆5200億円から1兆5000億円増えて、7兆円余りに上ることを明らかにしました。
Source: https://www3.nhk.or.jp/news/html/202104 ... 61000.html
Accessed: 2021-04-27

This corresponds to a cost increase of about 27 percent.

The reasons were identified as the follows:
  • The cost of transporting soil generated from the construction work is expected to be higher than expected.
  • The construction of terminals at Shinagawa and Nagoya stations in Tokyo will be more difficult than expected.
  • The need to strengthen earthquake countermeasures has become apparent.
Source: https://www3.nhk.or.jp/news/html/202104 ... 61000.html
Accessed: 2021-04-27

Image
Source: https://www3.nhk.or.jp/news/html/202104 ... 61000.html
JR Tokai President Shin Kaneko during the press conference.
Accessed: 2021-04-27
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Eurorapid
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Joined: 17. Apr 2021, 23:08

Maglev cost + $14 bil.

Post by Eurorapid »

The president of the Central Japan Railway Company [...] says the estimate of the total cost of constructing a high-speed maglev train line has been revised upward by 1.5 trillion yen, or nearly 14 billion dollars.

[...] the cost of the line connecting Tokyo and Nagoya is now estimated to come in at over 64 billion dollars. [...]

the construction of terminals in Shinagawa and Nagoya stations will be more difficult than first expected. He also cited the need to further strengthen seismic countermeasures, as well as a rise in the cost of removing soil generated by the construction work.
Source: NHK https://www3.nhk.or.jp/nhkworld/en/news/20210427_36/
accessed: 2021-04-27

Image
Photo Source: NHK https://www3.nhk.or.jp/nhkworld/en/news/20210427_36/
accessed: 2021-04-27
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Eurorapid
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Re: Construction cost +1.5 trillion yen

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JR Tokai: Cost of maglev project will grow by 1.5 trillion yen
THE ASAHI SHIMBUN
April 28, 2021 at 18:50 JST
The magnetically levitated train project to link Tokyo and Nagoya will cost an additional 1.5 trillion yen ($13.8 billion) [...].

That will push the total cost up to about 7 trillion yen and introduce new financing challenges in already difficult times. [...]

The extra costs include some 500 billion yen to be spent on work to shore up the ground at Shinagawa Station in Tokyo and Nagoya Station, the two terminals the maglev connects.

About 600 billion yen will be spent on bolstering the elevated structures on which the maglev travels to withstand strong earthquakes, while about 300 billion yen will be needed to properly dispose of the huge amount of earth dug up to build the underground line.

JR Tokai [...] can fund 500 billion yen of the extra cost. But the company said it does not know how to secure the remainder.
Source: http://www.asahi.com/ajw/articles/14339504
Accessed: 2021-04-28
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Miss Maglev
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Re: Construction cost +1.5 trillion yen

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The necessary funds will be secured on the assumption that railroad transportation revenues will gradually recover and return to the level of FY2018, before the corona disaster, from FY2024 to FY2028.
Info: https://www.traicy.com/posts/20210429208151/ Accessed: 2021-04-29

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2021-04-29_Chuo_Shinkansen_Yamanashi
2021-04-29_Chuo_Shinkansen_Yamanashi
Photo: https://www.traicy.com/posts/20201019185801/dsc_0444-2/ Accessed: 2021-04-29
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Miss Maglev
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Re: Construction cost +1.5 trillion yen

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JR Central says it will fund the budget increases primarily through operating cash flow and the remaining through loans. “If the company anticipates that it can no longer ensure sound management and stable dividends, it will aim to complete the construction by adjusting the pace of construction,” JR Central says.

The railway anticipates revenues to recover to 66% of 2018 levels in fiscal 2021, 80% in 2022, 90% in 2023, returning to 100% by 2028. It expects employment expenses to remain at the five-year average from fiscal 2015 to 2019 and expects to implement general cost reductions where possible. The railway says such measures will help to maintain capital investment at current levels with the additional cost required for the Chuo project set to be covered by 2028. “It should be noted that this does not mean a new target date for opening is set,” the railway says.

The project was approved in 2014 and under the 2017 plan in which the Yen 5.52 trillion budget was set, the Shinagawa – Nagoya section is scheduled to open in 2027.
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