Prime Minister Narendra Modi's dream project -- the Mumbai-Ahmedabad Bullet Train has been shown the green light with the formation of the company tasked with taking the project forward -- the National Highway Speed Rail Corporation Limited.

The Prime Minister's Office has two other two routes apart from the Mumbai-Surat one in mind and these include the Chennai-Bengaluru and Varanasi-Kolkata routes.

These three projects are likely to cost more than Rs 1 lakh crore as the trains have to ply on a specially-constructed elevated platforms. The construction is likely to be on the pattern of the metro rail projects across many Indian cities.

Chinese and French companies have already shown interest in these three projects.

The PMO is also keen that these projects be completed before the 75th Independence day in 2022. The mandate for the company is to first identify three such bullet train prototypes and then float the tenders.

Since this is a gigantic task with huge investment, the PMO is keen to monitor the progress of the project.

The Indian Railways has initiated a global hunt to recruit the top management of the newly formed company and yesterday, the company invited applications for four top posts.

These include managing director, director (project), director (electrical and systems) and director (finance). Selections will be made by a committee headed by the cabinet secretary.