History Making: China Part of JV Building High-Speed Rail in US
After four years of negotiations, a JV of China Railway Group and American company XpressWest Enterprises will build a high-speed railway project in America. With $100M in starting capital, the JV will build and operate a 230-mile line from Victorville, CA, to Las Vegas.
Construction could happen as soon as next September, officials say. The privately funded train will run adjacent to Interstate 15, the only freeway between the two cities, at 150 mph.
Up to now DesertXpress has been a maglev line backed with $45M in federal funds. The agreement comes as high-speed and high-tech rail projects are flourishing in China and ready for international contracts. Other places ready to see rails are California's Northern to Southern coasts, Texas and Florida. [Bloomberg]
