California to undertake a statewide high-speed rail project

Posted by IronPlanet on Sep 19, 2012 6:13:00 PM

California is planning to revamp its rail system to make way for a new high-speed rail line and improve upon existing tracks throughout the state. According to The Associated Press, the Federal Railroad Administration recently approved the first phase of construction on the Golden State's rail modernization project. Construction equipment will soon become a common sight along a 65-mile corridor from Fresno to Merced, as this is the first section of the planned 800-mile railway system to be built.

"This is now a statewide rail modernization plan, which will not only deliver high-speed rail but also will invest billions of dollars of improvements to local and regional rail systems around the state immediately," Jeff Morales, the CEO of California High-Speed Rail Authority, told the AP.

The first corridor, since it runs in both directions, will actually require that about 130 miles of rail line be built. This will cost about $6 billion overall, and the state has been working to raise funds by selling $2.6 billion in bonds. An additional $3.2 billion has been granted by the federal government. The project will need to be completed in four years, or else the federal funding may drop off, according to the Los Angeles Times.

In order to accomplish this task, California will need to obtain up to 120 permits and 1,100 parcels of land as well as hire five large teams of contractors to perform the work across the Central Valley corridor. The work will include hauling large loads of gravel, steel rails and rail construction equipment to the site. The Times indicates this would result in the fastest construction rate in the transportation sector in the nation's history, but any snafus encountered along the way could result in failure to complete the rail line by the September 2017 deadline.

Topics: Construction, Industry Headlines