financetom
Business
financetom
/
Business
/
US, Japan signal support for Texas high-speed rail plan
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US, Japan signal support for Texas high-speed rail plan
Apr 10, 2024 9:56 PM

TOKYO/WASHINGTON, April 11 (Reuters) - The governments

of the United States and Japan signalled support for a plan to

build the first high-speed rail in the U.S. using Japanese

bullet trains after their leaders met in Washington on

Wednesday.

Reuters exclusively reported this week that President Joe

Biden is seeking to revive interest in the project linking the

Texas cities of Dallas and Houston and was likely to raise the

issue during Prime Minister Fumio Kishida's state visit.

The project was among several named in a fact sheet

published by the White House after the talks outlining

"political understandings" that were affirmed during the visit.

"The U.S. Department of Transportation and Japan's Ministry

of Land, Infrastructure, Transport and Tourism welcomed Amtrak's

leadership of the Texas Central High Speed Rail Project,

utilizing Shinkansen technologies," the fact sheet said.

"The successful completion of development efforts and other

requirements would position the project for potential future

funding and financing opportunities."

While advocates for the project, estimated to cost around

$25 billion to $30 billion, hope political support can unlock

new public and private cash to finally realise an idea that has

been talked about for decades, it still faces potential hurdles

in Texas and the U.S. Congress.

The 240 mile (380 km) rail link, which will be built and

operated by Texas Central Partners and Amtrak, is expected to

cut travel times between the cities to about 90 minutes, from

three-and-a-half hours by car.

Japanese state lenders, including the Japan Bank for

International Cooperation, have provided loans to help

develop the project, which plans to procure "shinkansen" bullet

train technology from Central Japan Railway ( CJPRF ).

Progress with the project would be a win for the Biden

administration, which has pushed climate-friendly policies and

rail investment.

But it has been opposed by some local groups over land and

other concerns and is likely to draw criticism, particularly

from hardline Republican lawmakers in the U.S. House of

Representatives, who have objected to using public funds for

rail projects in the past.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Harris to be interviewed by ABC News affiliate in Philadelphia, campaign says
Harris to be interviewed by ABC News affiliate in Philadelphia, campaign says
Sep 13, 2024
WASHINGTON, Sept 13 (Reuters) - U.S. Vice President Kamala Harris will participate in an interview with the ABC News affiliate in Philadelphia that will air later on Friday, her presidential campaign said. Harris, the Democratic nominee, will also join celebrity Oprah Winfrey for a livestream event next week, the campaign said. ...
Sernova Announces New Positive Data from Phase I/II Trial of its Cell Pouch Transplant System
Sernova Announces New Positive Data from Phase I/II Trial of its Cell Pouch Transplant System
Sep 13, 2024
01:26 PM EDT, 09/12/2024 (MT Newswires) -- Sernova ( SEOVF ) on Thursday announced the presentation of new positive interim data from the ongoing Phase I/II clinical trial evaluating the Sernova Cell Pouch Transplant System containing donor islets in people living with type 1 diabetes (T1D). The company, which is developing regenerative medicine cell therapies to treat chronic diseases, said...
Trump Media & Technology Shares Surge After Donald Trump Rules Out Selling His Stake
Trump Media & Technology Shares Surge After Donald Trump Rules Out Selling His Stake
Sep 13, 2024
03:35 PM EDT, 09/13/2024 (MT Newswires) -- Trump Media & Technology Group ( DJT ) shares jumped as much as 30% on Friday after Donald Trump said he is not selling any stake in the company. A lot of people think that I am going to sell and if I sell it would not be the same I can understand...
GM Eyes US-Made Chinese Batteries In Deal With Japan's TDK: Report
GM Eyes US-Made Chinese Batteries In Deal With Japan's TDK: Report
Sep 13, 2024
General Motors Company ( GM ) shares are trading higher after the firm agreed to explore collaboration with Hyundai Motor and expand its partnership with EVgo by installing 400 fast-charging stalls at key locations in major U.S. metropolitan areas. Additionally, the company is reportedly in talks to buy Chinese batteries made in the U.S. through its partnership with Japan’s TDK. The company is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved