LAS VEGAS (KTNV) — Brightline, the company behind a 200 mph train project between Las Vegas and Southern California, tells 13 Action News it hopes to sell $3.2 billion in bonds for the initial financing of the privately funded project.
XpressWest promises to shorten travel time from Las Vegas to Victorville, Calif., down to 85 minutes, with plans to eventually expand the rail to downtown Los Angeles.
The first phase of the project is expected to cost is around $5 billion. After expansion to Los Angeles, the total cost is projected to be $8 billion.
To get the ball rolling, Brightline has launched a bond offering of up to $3.2 billion.
The company confirms with 13 Action News that the project is still expected to break ground in 2020, sometime at the end of the year.
This will be Brightline's first West Coast project. In 2008, it launched a high-speed passenger rail system in Florida between Miami and Orlando.