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