by dowlingm
Joint venture announced with Chinese companies. Let's see where this goes.
http://qz.com/504194/chinas-first-high- ... las-vegas/" onclick="window.open(this.href);return false;
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http://qz.com/504194/chinas-first-high- ... las-vegas/" onclick="window.open(this.href);return false;
partial quote follows:
China has signed its first high-speed railway contract in the US, days ahead of President Xi Jinping’s state visit to Washington D.C. A consortium led by state-owned China Railway Group and US company XpressWest will set up a joint venture to build a 370-kilometer (230-mile) high-speed line linking Las Vegas and Los Angeles.
China’s leading group on financial and economic affairs announced the deal at a press conference on Thursday (Sept. 17), and said construction will begin next September. The project comes after four years of negotiation and will be supported by $100 million in initial capital, though the source of that capital was not specified, nor was the project’s expected cost and competition date. But 21st Century Business Herald and other Chinese papers reported the project will cost $12.7 billion and take three years.