VICTORVILLE, CA. (Pain In The Pass) >> Brightline West formally called XpressWest a Brightline company high-speed rail project, has derailed and put on hold. After a $3.2 billion of debts to be issued through a bond sale failed to attract investors in this economic uncertainty.
The company said over the weekend the bond offering was unsuccessful. The debt was to be issued through $2.4 billion in bonds backed by California and $800 million from Nevada.
The project is postponed until the market liquidity improves said a Brightline representative who also called it a “minor setback”.
The train setback continues, however, “We will continue to move the project forward” said Brightline spokesperson Ben Porritt.
The train would be very beneficial for California and the Las Vegas area due to the weekend traffic that could save you 2+ hours of traffic time.
The trains would run every 45 minutes from 6am to midnight, carrying up to 500 people at speeds approaching 200 mph. The trip from Victorville to Las Vegas would take about 90 minutes.
The Pain In The Pass website will bring you further project news and construction updates as the project progresses.
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