$130M Worth of Texas High-Speed Rail Design Work Will Be Done at Selected Firms’ Risk
Developers of a high-speed rail line between Dallas and Houston have selected two firms for 30 percent of the design work needed to make the bullet train a reality.
Texas Central Partners chose Archer Western Construction and Ferrovial Agroman US Corp. for the work, which is planned to eventually be used to construct the 240-mile line. The selected firms are performing the work under a joint venture called Dallas to Houston Contractors. And because that venture is taking on the $130 million worth of work at its own risk, Texas Central is considering the deal an investment.“They believe this can work and people want to be a part of it,” Texas Central CEO Tim Keith said this morning.
DHC won’t receive any equity or ownership stake in Texas Central. But if the high-speed rail company’s grand vision for connecting the state’s two biggest metropolitan areas with 90-minute train trips goes according to plan, DHC will undoubtedly have a leg up when it comes to building the line
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