The company has until Nov. 2 to make a $400 million equity investment into its proposed high-speed rail line.
Brightline West, the proposed all electric, high-speed rail line connecting Las Vegas to California, has until Nov. 2 to make a $400 million equity investment into the project, according to The Bond Buyer. Brightline West initially promised to raise the funds by March 31, 2026, but Bloomberg reported the company had not done so.
“[Brightline West] hopes to receive a $6 billion Railroad Rehabilitation and Improvement Financing loan by late October, according to The Bond Buyer. These are low-interest loans for railroad infrastructure, with repayment periods of up to 35 years. The loan may be the “key to the project’s future” in the eyes of investors, The Bond Buyer reported. The project’s cost estimate has risen from $12 billion in 2024 to $21 billion,” Dan Zukowski writes for Smart Cities Dive.
Previously, the Biden administration awarded Brightline West a $3 billion grant. Brightline West has also utilized $3.5 billion of “tax-excempt privacy activity bonds from the U.S. Department of Transportation,” Smart Cities Dive reports.
Read the full story: Las Vegas high-speed rail project may hinge on $6B federal loan
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