Twitter
Daily construction news
Weekly plant news

Construction News

Thu October 23rd 2014

Related Information
Related Information
Related Information

News » International » California's $68bn high-speed plan approved » published 13/04/2012

California's $68bn high-speed plan approved

The California High-Speed Rail Authority Board has passed a revised business plan that will provide for high-speed rail service within a decade at a cost of $68.4bn (£42.9bn).

"I am pleased to announce today that the High-Speed Rail Authority has taken a huge step forward toward making a coordinated statewide transportation network a viable reality,” said Authority Board chair Dan Richard.

“We now stand poised to have an operational high-speed passenger rail system within ten years,” said board member Mike Rossi.

The Board unanimously approved a memorandum of understanding (MoU) with Southern California transportation agencies and MPOs. This document outlines a shared commitment to advance the development of high-speed rail while providing funding for local early investment projects in Southern California that will improve rail service immediately. This agreement is designed to set the stage for construction to begin on needed Southern California infrastructure projects as early as next year.

In another unanimous decision, the Board approved a memorandum of understanding (MoU) with Northern California transportation entities. This would electrify the Caltrain commuter train from San Jose to San Francisco. The MoU, which has been approved by the Metropolitan Transportation Commission, calls for local and regional entities to provide funding for just over half the US$1.5bn agreement. The Authority would provide US$706bn from bond monies.

MPU

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 13/04/2012 (last updated on 13/04/2012).

More News Channels