- Soaring US Infrastructure Construction Costs Revealed In New Brightline Project Estimate
- Briefer Still: Other Developments TRN Is Following
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Soaring US Infrastructure Construction Costs Revealed In New Brightline Project Estimate
The skyrocketing cost of new US transportation infrastructure was in full evidence last week when the backers of the Brightline West rail project announced that their budget has increased by $5.5 billion (almost 35 percent) since last year and now stands at $21.5 billion.
Brightline, the nation’s only private rail company, and Fortress Investment Group, its principal investor, aim to build the 218-mile high-speed passenger railroad to transport visitors from metro Los Angeles to Las Vegas. Brightline CEO Mike Reininger attributed his ballooning construction budget to increased costs for labor and materials due in part to a proliferation of data center, power plant, and transportation projects.
Because of the revised budget, Brightline is now seeking a $6 billion federal loan to replace a bank facility that was part of its original financing plan. It also proposes to raise $5.5 billion in equity to cover its additional construction expenses.
Sources: Bloomberg CityLab, “Railway Age”
Brightline Economic & Social Considerations Affecting Transportation Highway-Tunnel-Bridge Maintenance US Gov't Transportation FundingBriefer Still: Other Developments TRN Is Following
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