The price tag for the rail system has risen to $128 billion, according to a California High Speed Rail Authority project update report — a nearly 22% uptick from the previous figure of $105 billion from last year and a far cry from the $33 billion cost voters approved in 2008. The latest increases are due to “inflation/escalation, enhanced scope definition and greater contingency for risk,” per the report. — Construction Dive
The cost imbalance has reportedly pushed back the Merced-to-Bakersefield segment’s targeted start of service from 2030 by up to three years, according to the CEO of the Rail Authority Brian P. Kelly.
Plans now are for at least the 119-mile segment that’s currently under construction in the Central Valley to be completed while the project waits on the tens of billions worth of outstanding federal grant funding that are still pending approval by the government.
The headache mirrors the troubles the HS2 line is having in England. In his report to the state, Kelly lamented the hamstrung funding, saying: “Megaprojects that last for decades need long-term, stable funding. Every country around the world that has built high-speed rail has dedicated billions of dollars over several decades to see it through. We don’t have one penny of state support for this project identified after 2030.”
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