The project is estimated to cost ₹1.08 lakh crore (US$17 billion). The cost includes interest during construction and import duties. JICA agreed to fund 81% of the total project cost ₹79,087 crore (US$12 billion), through a 50-year loan at an interest rate of 0.1% and a moratorium on repayments up to 15 years. Indian Railways will invest 9,800 crore (US$1.5 billion) in the high-speed rail project, and the remaining cost will be borne by the state governments of Maharashtra and Gujarat.20% of the components used on the corridor will be supplied by Japan, and manufactured in India.
Most of the line will be constructed on an elevated corridor to avoid land acquisitions and the need to build underpasses. It will also enhance safety by eliminating the need for level crossings. The decision to construct an elevated line raised the cost for the project by an additional ₹10,000 crore (US$1.5 billion)
Trains are proposed to have length of between 10 and 16 coaches. Each train will have a passenger capacity between 1,300 and 1,600 passengers. The system will be designed to operate trains at a maximum speed of 350 kilometres per hour (220 mph), while operational speed would be 320 kilometres per hour (200 mph). When traveling at 350 kilometres per hour (220 mph) a train will be able to travel end-to-end on the 508 kilometres (316 mi) line in 2 hours and 8 minutes.Currently, a train journey from Mumbai to Ahmedabad takes 7 hours.
Indian Railways proposes to operate two types of services on the corridor. A “Rapid Train” service with only two stops at Surat and Vadodara, and a slower service that halts at all stations. The “Rapid Train” would complete the journey in 2 hours and 7 minutes, while the slower service would take 2 hours and 58 minutes. In total, 35 daily services will be operated on the line, with 3 services per hour during peak hours and 2 services per hour during off-peak hours. The Railways estimates that the high speed rail corridor will have a daily ridership of around 36,000 in 2023.
On 9 January 2017 at Vibrant Gujarat Summit, the Gujarat Government and the National High Speed Rail Corporation Limited (NHSRC) signed an MoU worth ₹67,000 crore (US$10 billion) for component manufacturing for the high speed rail corridor. The Gujarat Government will bear 25% of the total project cost and provide land for the project