Investments of $2.45 Billion for NEC High-Speed Rail
posted by AJOT | Aug 29 2016 at 07:17 AM | Intermodal
CHICAGO - Statement of Richard Harnish, Executive Director of the Midwest High Speed Rail Association (MHSRA), in response to the $2.45Bn loan for new high-speed trainsets, track improvements and station upgrades for the NEC.
“Today’s $2.45 billion investment in passenger rail will help Amtrak accommodate the steady growth in demand for fast, frequent and reliable train service. New high-speed trainsets, station upgrades and track improvements are critical to the continued success of the Northeast Corridor.”
“The loan was provided through the Railroad Rehabilitation & Improvement Financing loan program, which provides low cost loans to freight and passenger railroads for infrastructure improvements. The RRIF program has now awarded $5.1bn of a $35bn authorization and should be leveraged again for further passenger rail investments.”
“This is a landmark deal that could lead to further investments in our national network. Our Midwest leaders should come together to ask for a similar federal commitment for the Midwest Hub.”