Texas Central lands Bullet train project a $300m loan

September 24, 2018 by  

The company working to create a high-speed train connecting downtown Dallas to Houston has obtained a loan of $300m.

Japanese sources, among which is the country’s only public-private fund focusing on oversea infrastructures, are backing the loan. Japanese Shinkansen is the technology that Texas Central intends to use for the bullet train here.

The company assured the public via a written statement that the loan will be repaid with interest and the majority-Texan ownership of the train will remain intact.

The loan, plus the equity Texas Central has on hand that is primarily from Texas investors, will provide sufficient funds to meet the capital requirements for construction to be authorized.

The company hopes to have the train operational by 2024. Construction is expected to take five years but cannot start until the final environmental clearance is given. The Texas Commission on Environmental Quality usually takes a year or more to issue or deny a permit or add conditions that must be met before the project can be reassessed.

Whenever transportation options change, members of the affected business community often commission flyer printing orders to inform the public of how to navigate those changes and encourage their patronage.

Texas Central’s plan is for a bullet train to make the 240-mile high-speed trip between the two cities in 90-minutes, including a stop near Texas A&M University.