A $4.8-billion project to run high-speed rail from Southern California to Las Vegas is securing needed funding.
A plan to connect Apple Valley in California to Las Vegas has advanced in recent weeks, reports Ralph Vartabedian. "If the chips fall the right way, the $4.8-billion project should have full funding for a 170-mile line along Interstate 15 and start construction later this year with trains running by 2023, [XpressWest] told The Times."
The majority of the funding would come from private debt funding through California, Nevada, and federal bond programs, says Vartabedian. "It adds up to $4.2 billion with XpressWest’s parent covering the balance with about $600 million of private equity, company officials said."
California officials are confident the additional funding will come through. "Officials are also taking the company’s plan seriously because it has contracted with a construction team led by Skanska of Stockholm, Sweden, and has purchased land for stations, a maintenance yard and related residential and commercial development," adds Vartabedian.
Read the full story: Las Vegas high-speed train project, once stuck in low gear, is now moving forward
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