A number of foreign countries and firms are jockeying to build high-speed rail in California, but the Chinese government is proposing that they cover some of the financing as well.
Keith Bradsher writes, "The California rail authority plans to spend $43 billion to build a 465-mile route from San Francisco to Los Angeles and on to Anaheim that is supposed to open in 2020. The authority was awarded $2.25 billion in January in federal economic stimulus money to work on the project. The authority's plans call for $10 billion to $12 billion in private financing. Mr. Crane said China could provide much of that, with federal, state and local jurisdictions providing the rest. Mr. Zheng declined to discuss financial details."
Talks with China have gone well, according to David Crane, a board member with the California High Speed Rail Authority. But as Bradsher reports, the Chinese might face a challenge with political pressures to "buy American."
Catch up on the latest high-speed rail news over at Planetizen's new site, HSR News.
Read the full story: China Offers High-Speed Rail to California
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