The Japanese Transport Minister Akihiro Ohata has granted the railway operator JR Tokai concession for the construction of the maglev between Tokyo, Nagoya and Osaka. Thus, the so-called Chuo Shinkansen Project, which is in planning since 1973, on its way to its realization. With a cruising speed of 505 kilometers per hour travel time between the two cities will be reduced to 67 minutes.