US HSR…. Latest News….

Texas High Speed Rail Taps Citigroup for Project Funding

Citigroup and Mitsubishi Financial to Secure Project Funding

Citigroup Inc. and Mitsubishi UFJ Financial Group are joining the push for a Texas high-speed train to connect Dallas and Houston. The banks, selected as financial advisers, will lend their heft to fundraising efforts for the investor-driven project.

Texas Central would cut the trip between Texas’ two largest metropolitan areas to 90 minutes, compared with a drive that takes more than four hours. Commuters would also be able to forgo the long security lines and potential delays at airports that lengthen travel time for the half-hour flight.
For Texas Central, Citi will be the lone global coordinator and lead financial adviser. MUFG will act as co-global financial adviser, Texas Central said in a statement. The two financial groups will assist in securing the debt and equity to finance the project.

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California HSR: Administration’s Plan to Recall Money ‘Disastrous’
Leaders of California’s high-speed rail project told the Trump administration Monday its plans to take back $2.5 billion in federal money and withhold another $1 billion earmarked for the project are “disastrous policy” and “legally indefensible.

“Terminating the money “would cause massive disruption, dislocation, and waste, damaging the region and endangering the future of high-speed rail in California and elsewhere in the nation,” Brian Kelly, the chief executive for the project, wrote in a letter to Jamie Rennert of the Federal Railroad Administration.

Kelly’s letter is in response to a February threat by the U.S. Department of Transportation to withhold a $929 million grant for California’s project to build a high-speed rail line between Los Angeles and San Francisco and possibly take back $2.5 billion in federal money the state has already spent. The grants require California to complete 119 miles of track in the Central Valley and environmental reviews on the full line by 2022, which the project is on schedule to do.  

Story | California HSR | Top 10 Reasons for HSR

     
In case you missed it…
NPR Nationwide Talk Show On Point Features Rod Diridon

USHSR Chair Emeritus Rod Diridon was live on NPR radio On Point show this week outlining the California HSR project, and the many benefits of high speed rail will deliver to America.

“The point is that we’re going to have to figure out a way to compete with the rest of the world, and the country that gets people to work and product to the market most efficiently wins that competition. We’ve been very lucky to have the facilities left over from the investments of the late 1800s and early 1900s that we’ve been able to use up to the 1950s. Now we’re skating on that investment,” -Rod Diridon

“As CSX famously noted in its ad campaign, a train can move a ton of cargo more than 400 miles on a gallon of fuel. A Boeing 747, on the other hand, burns one gallon of fuel every second.”
     
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