Brightline's Vegas to LA Rail Project Cost Soars to $21 Billion
Brightline, the high-speed rail company, has seen its Las Vegas to Southern California project cost soar to $21 billion, as revealed in federal documents. This significant increase comes after the company applied for a student loan from the Federal Railroad Administration in September, citing rising construction costs.
The project's initial cost was $12 billion. The increase of $9 billion is substantial and highlights the challenges faced by Brightline in delivering this ambitious business project.
The loan request, worth $6 billion, was made to the Trump administration. However, the former U.S. President who handled this request has not been publicly identified. The application was submitted in September, indicating that Brightline has been proactive in seeking financial assistance to manage the escalating costs.
The cost increase and loan request suggest that Brightline is committed to pushing forward with the project despite the financial challenges. The identity of the former President who handled the loan request remains unclear, but the company's pursuit of funding indicates its determination to bring high-speed rail to the Las Vegas and Southern California regions.
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