In Germany, the governor of Bavaria has announced that financing has been secured for a 23-mile mag-lev train from downtown Munich to its international airport. But others say the funding is less-than secure.
"The price tag is enormous: The 37-kilometer-long (23 mile) section of magnetic-levitation train from the Munich airport to the center of the city is set to cost fully €1.85 billion ($2.6 billion). The high-tech toy promises to cut the journey time from the currently agonizing 40 minutes down to just 10 and demonstrate to the world Germany's commitment to technological advancement."
"Despite Tuesday's announcement, though, it is still not a slam dunk that the project will be built. Germany Finance Minister Peer Steinbrück has pledged €925 million of federal money for the project with the state of Bavaria coming up with most of the rest. But the €1.85 billion cost estimate is five years old and nobody has shown willingness to cough up for possible -- some would say probable -- cost overruns."
Read the full story: Maglev Megalomania in Bavaria
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