Chinese company announces plans to build high-speed rail between Las Vegas and Los Angeles
The 230-mile line would connect Las Vegas, Victorville, Palmdale and Los Angeles and allow passengers to travel from Las Vegas to Los Angeles in one hour and 20 minutes, compared to four hours by car.
LAS VEGAS — A unit of CRRC, China's largest train manufacturer, has signed a deal with an American venture to build a high-speed rail between Los Angeles and Las Vegas, Reuters reported.
China Railway International USA said in a joint statement with XpressWest, a private venture proposal backed by Las Vegas-based hotel and casino developer Marnell Companies, that the project had an an initial capital of $100 million. Construction could begin as early as September 2016.
The 230-mile line would connect Las Vegas, Victorville, Palmdale and Los Angeles. The train would travel at speeds up to 150 miles per hour, meaning passengers could travel from Las Vegas to Los Angeles in one hour and 20 minutes, comparing to four hours by car.
XpressWest had been unable to secure a federal loan or investment from within the United States for the project.
China Railway International USA, is owned by a consortium made up of subsidiaries from state firms China Railway Group, CRRC Corp, China State Construction Engineering Corporation and China Railway Signal & Communication Corporation.
Gary Wong, a Hong Kong-based analyst at brokerage Guotai Junan, told Reuters he estimated the project could be worth about $5 billion.
An employee stands next to a model of a Chinese-made high-speed railway. CRH380B train at a production line. REUTERS
A final assembly line of China CNR’s Tangshan Railway Vehicle’s factory in Hebei province. REUTERS
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