The 135km double-track line from Thane, northeast of Mumbai, to Nasik will be built for 300km/h operation, which will cut the Mumbai - Nagpur journey time from 3h 30min to 45 minutes.
Two levels of service are envisaged: a 300km/h inter-city service and a 250km/h regional service. The line is expected to carry 30,000 passengers per day.
Spain is planning a mission to India next month to discuss how the project could be financed.
