California seeks high-speed rail funding.....in Asia

[marmar]

via MassTransitMag:



SAN FRANCISCO (MarketWatch) - California Governor Arnold Schwarzenegger may have found a much-needed backer for the state's grandiose bullet train plans during his trade-relations tour through Asia this week.

With California still riding out a fiscal crisis, Schwarzenegger is fishing for help in building a $40 billion transportation network to whisk passengers across his state at speeds topping 200 miles per hour.

Voters gave the project the green light when they approved a $10 billion bullet train bond in 2008. That was before the onset of the worst recession in decades and growing concerns over how to pay for the mammoth undertaking.

Japan, the long-time standard bearer in high-speed rail travel, is ready to lend funds, according to a Bloomberg report, though it was unclear how much might be offered.

The celebrity governor, as part of his voyage, had already hopped aboard a high-speed train a day earlier in China, where he mentioned that he will be not only entertaining bids on the lucrative contract to build the trains, but is also seeking a financial boost.

He also has plans to take a train ride in South Korea after his stop in Japan. ...........(more)

The complete piece is at: http://www.masstransitmag.com/online/article.jsp?siteSection=3&id=12444