What is the cost of the California high speed rail project?
The latest estimates from the California High-Speed Rail Authority suggest it will cost between $88 billion and $128 billion to complete the entire system from LA to San Francisco.
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The current cost estimate to deliver the 500-mile system linking San Francisco to Los Angeles/Anaheim via the Central Valley ranges from $69.01 to $99.9 billion.
New cost figures issued in an update report from the California High-Speed Rail Authority show that the plan to build the 171-mile initial segment has shot up to a high of $35 billion, exceeding secured funding by $10 billion.
The cost of constructing the Shinkansen was at first estimated at nearly 200 billion yen, which was raised in the form of a government loan, railway bonds and a low-interest loan of US$80 million from the World Bank.
It costs 120 million to 130 million yuan to extend the high-speed rail 1 km, he estimates. This suggests that extending the network by 8,000 km by 2025 would take an investment on the scale of 1 trillion yuan.
This chart displays the Breakeven Analysis on Phase 1 of the high-speed rail system assuming the horizon year of 2040, showing a 99.4 percent probability that Phase 1 would be profitable between $0 to $5.7 billion and a 0.6 percent chance of deficit between $220 million and 0.
The interstate highway system cost $129 billion — roughly $290 billion in current dollars — and took 35 years to complete, running from 1957 to 1992. The $1.2 trillion infrastructure bill enacted in 2021 has $102 billion for rail, but none of the money is set aside for high-speed rail.
Eighty percent of the 286 kilometers (177 mile) Maglev bullet train track will be located underground, passing under urban sprawl and mountainous terrain. The project is expected to cost the equivalent of 55 billion dollars.
Modelling by Virgin Hyperloop One in 2016 estimated a per-mile cost of $84 to $121 million for a cut-down 107-mile Bay Area project. This compares to a projected cost of $178 million per mile for the full Californian high speed rail project.
BNSF Railway leads the marketThe railroad focuses on transporting freight commodities such as coal, industrial or agricultural products. In 2022, the company generated some 24.49 billion U.S. dollars in freight revenue and hauled more than 10 million carloads across the country.
As of February 2021, the state of California has spent approximately $4.3 billion on the high-speed rail project that was planned to connect Los Angeles to San Francisco. However, it is important to note that the project is not entirely dead but has faced significant delays, cost overruns, and scaled-down plans.