Central Japan Railway Co. (JR Tokai) will pay $45 Billlion out of its own pocket to build a new Shinkansen line between Tokyo and Nagoya for the 310 mph magnetically-levitated (maglev) trains scheduled to go into service in 2025, company officials said. It is the most expensive maglev project ever conceived.

The company made the decision after deeming that it can start operating super-superexpress trains earlier if it chooses not to wait for an injection of taxpayers' money.

The fastest maglev train is expected to complete the 180 Mile journey between Tokyo and Nagoya in 40 minutes as compared with an hour and 40 minutes that the fastest bullet train on the Tokaido Shinkansen Line currently takes to travel between these cities.

JR Tokai estimates that it will cost $90 Billion to build the Chuo Shinkansen Line between Tokyo and Osaka for maglev trains.