Los Angeles to Las Vegas High Speed

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WatcherZero

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The Los Angeles to Las Vegas High Speed line being developed by XpressWest has lost its Chinese development partner 9 months after they signed to provide $100m of seed capital. The project required $6bn of federal loans and $1.4bn private finance raised by the developer Marnell hotels. Its not the first time federal funding had fallen through because of buy American clauses however this project had received the equivalent of a TWAO from Nevada last year and after signing of Chinese partners was expected to break ground before the end of this year.

The breakdown in the deal occurred because the Chinese wanted to build the trains but the US Government requires High Speed trains to be built in the USA to receive federal funding, however they have no high speed train manufacturers.

There are 3 other private projects to build high speed lines in the USA, all of them require foreign funding and technology.
 
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