Sacramento, Calif. (AP) — A long-term extension project between San Francisco and Los Angeles in less than three hours of uninterrupted rail services between San Francisco and Los Angeles may be able to get much-needed private funds, and its CEO told the Associated Press if California agrees to repay investors.
Ian Choudri, appointed CEO of the California High Speed Rail Administration in August, is tasked with revitalizing the country’s largest infrastructure project Costs soar New concerns about the Trump administration Can get $4 billion exist Federal funding.
“We started this, we didn’t succeed,” said Jodri, describing the reasons why European high-speed systems attracted him to work after work. “That’s what I’m going to say, let’s go in, completely reverse it, and put it back in. Solve all the issues, keep the funds stable and prove to the rest of the world that when we decide we want to do it, we actually do it.”
Voters first approved $10 billion in bond currency in 2008 to cover one-third of their estimated cost and promised that the train would be up and running by the deadline by 2020. Without shelving, Choudri admitted that it might take nearly two decades to complete most of the LA Angel segment and even set up financing.
The project’s price is now over $100 billion, more than three times the initial estimate. It is mainly funded by the state through voter-approved bonds and trade trade programs. Less than a quarter of the money comes from the federal government.
Authorities have spent about $13 billion. The country is now debtAccording to the Office of the Inspector General, officials will need to propose a financing plan for the Central Valley sector by mid-2026.
“From the beginning, the managers of the project were in trouble because they never had financing – certainly unstable and forecast financing – they would need to manage the project effectively,” Lou Thompson said.
Losing from the federal government, he said, “will require a real rethinking of what we do in the next four years of survival.”
The railway leaders are negotiating with Gov. Gavin Newsom’s government and state lawmakers to ensure what private investments need, Choudri said, adding that states may have to take federal loans or issue new bonds without the currency of the private sector. He said private investors expressed interest in the project at an industry forum in January, but needed some form of security.
Choudri is pushing Newsom and lawmakers to consider a plan that will ultimately repay private investors who may have interest. This will give the country more time to pay for it.
Legislative Democrats say they still have hope for the future of the project. However, they have not made any suggestions in the state legislature this year to put additional funds on hold and refuse to spend more money on the project in the past.
Choudri plans to provide lawmakers with updated schedules and price tags this summer.
Choudri aims to achieve the original vision of building pioneering systems – already common Europe and Asia – Stimulate economic growth, curb planet transmission emissions on cars and planets and save drivers Hour on the road.
At speeds up to 220 miles (354 kilometers) per hour, this will be the fastest way to travel on the ground in the United States.
Amtrak’s Acela trains are transported to major cities such as New York, Boston and Philadelphia at a speed of 150 miles per hour. Another Florida rail line runs at 125 miles per hour (201 kilometers) From Orlando to Miami.
Construction is underway, mainly a privately funded high-speed system to transport riders Las Vegas to Southern California.
Construction in California is far from complete. Of the ongoing 119 miles (192 km) of buildings in the Central Valley, only a 22 miles (35 km) extension can be carried out on track stages until next year.
Complete the route in the valley is only the first step. Next, the train must extend north to the San Francisco Bay area and south to Los Angeles. Choudri’s goal is to build Gilroy, about 70 miles (113 kilometers) southeast of San Francisco. Under current public transportation, it will require at least one train transfer to enter the city.
He envisioned the Palmadale building 37 miles (60 kilometers) northeast of Los Angeles. From there, it takes more than an hour to drive on the existing train line to reach Los Angeles.
“In an ideal world, you can build it in a warehouse at a speed of 500 miles and then put it down, and everyone is happy,” Jodri said. “But these programs will never build like that. You build it step by step, and that’s what we’re doing right now.”
Critics say the project will never be completed and may extend towering and unusable infrastructure in the state’s agricultural heartland. More than 50 structures have been built, including underground passages, viaducts and bridges, to distinguish the railway line from existing roads.
“We’ve spent billions of dollars now and there’s really no conditions laid,” said Republican state Sen. Tony Strickland, vice chairman of the Senate Transportation Committee.
King County Supervisory Board Chairman Doug Verboon said farmers were fighting the High-speed Railway Bureau in court due to land losses due to the project.
“It seems to me that the state government is eager to finish it,” he said.
Austin is a member of the Associated Press/Reports Corps of the U.S. State Legislative News Initiative. US Report is a nonprofit national service program that places journalists in local newsrooms to report reports on secret issues. Follow Austin on X: @sophieadanna
