California bullet train adds another $1 billion to projected costs for project
The California High-Speed Rail Authority on Wednesday bumped its overall cost estimate for completing the rail line between Los Angeles and San Francisco to $80.3 billion, blaming inflationary increases and better cost projections for a $1.3-billion boost that still is smaller than in previous years.
“We continue to make investments in all three regions of the state,” said Brian Kelly, the project’s chief executive, adding that “California is further along than I think a lot of people think.” The increase in the projected baseline cost is smaller than previous jumps, with Kelly calling it ”virtually unchanged” and within the ranges of recent previous estimates. The 2016 business plan estimated the project would cost $64 billion. The authority raised that to $77 billion in the 2018 business plan and added $2 billion to the estimate just last year.
By then the state must have 119 miles completed, with track on the ground. It must also have environmental clearance for all 520 miles to meet its deadline to use $3.5 billion that the state won under the Obama administration to build an initial segment of track in the Central Valley.
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