High-speed rail project linking Southern California and Las Vegas (the “Southwest Rail Network”) will be built by a U.S.-China joint venture, Chinese officials said Thursday, though many details about the agreement and Financial terms of the agreement, such the cost of the project, were not immediately clear.
The Project will develop, finance, build and operate the Southwest Rail Network, with stations in Las Vegas, Nevada, Victorville, California, and Palmdale, California, and service throughout Los Angeles.
The decision to form a joint venture is the culmination of years of work and builds upon the significant accomplishments of XpressWest.
Supported by $100 million in initial capital, this new 370 km(s) high-speed rail line will connect Southern Nevada and Southern California.
The Project will serve as a model of international cooperation and will firmly establish a United States-based high-speed rail industry that will construction planned to commence as early as September 2016.
The Project will immediately undertake all necessary regulatory and commercial activities to advance the reality of regional high-speed rail in the United States. Implementation will begin within the next 100 days.