Central Japan Railway Co. (JR Tokai) filed a formal application Tuesday with the transport ministry for approval to build a magnetically levitated train line linking Tokyo and Nagoya.

The company is expected to start construction as early as October following approval by the Land, Infrastructure, Transport and Tourism Ministry.

JR Tokai plans to complete the Tokyo-Nagoya maglev train line in 2027 to link the two cities in only 40 minutes, compared the roughly 100 minutes it takes now by standard shinkansen.

The line is to be extended to Osaka in 2045 to shorten the Tokyo-Osaka trip to 67 minutes.

JR Tokai intends to shoulder the entire construction cost estimated at ¥9 trillion.