Latest news with #HighSpeedRail
Daily Mail
05-06-2025
- Business
- Daily Mail
Taxpayer cost for California's High-Speed Rail project revealed
The Trump administration is considering pulling federal funding from California 's High-Speed Rail project after the US Department of Transportation revealed no track has been laid despite nearly $7 billion in taxpayer funds spent over 15 years. The ambitious project, initially approved by voters in 2008 with a $10 billion budget, aimed to connect major cities in California, however, costs have escalated dramatically, with the total projected cost now ranging from $89 billion to $128 billion. The Federal Railroad Administration has since issued a scathing 315-page report which cites key issues with the troubled project including missed deadlines, budget overruns and unreliable ridership projections. The White House has now initiated a review to determine whether to rescind an additional $4 billion in federal grants allocated for the project's completion. The embattled rail line faces further roadblocks with a $7 billion funding gap for the Merced-to-Bakersfield segment, even before the Trump administration considers pulling the $4 billion in federal funds. The entire San Francisco-to-Los Angeles project was initially supposed to be completed by 2020 for $33 billion, Reuters reported - but the project is far from completion of any phase. The Transportation Secretary emphasized that if the California High-Speed Rail Authority (CHSRA) cannot demonstrate progress, the federal government may redirect funds to other infrastructure projects. 'CHSRA is on notice - If they can't deliver on their end of the deal, it could soon be time for these funds to flow to other projects that can achieve President Trump's vision of building great, big, beautiful things again,' he said. 'Our country deserves high-speed rail that makes us proud - not boondoggle trains to nowhere.' In response, CHSRA defended the project, asserting that over 15,000 jobs have been created and 119 miles are under active construction. 'There is active civil construction along 119 miles in the Central Valley, resulting in over 15,000 construction jobs, and design and pre-construction activities are underway on the extensions to Merced and Bakersfield totaling 171 miles,' as per a CHSRA statement. The CHSRA added that most of its funding comes not from federal origins but rather from the state of California. 'We remain firmly committed to completing the nation's first true high-speed rail system connecting the major population centers in the state. While continued federal partnership is important to the project, the majority of our funding has been provided by the state. To that end, the Governor's budget proposal, which is currently before the Legislature, extends at least $1 billion per year in funding for the next 20 years, providing the necessary resources to complete the project's initial operating segment,' a CHSRA spokesperson told the 'The Authority will fully address and correct the record in our formal response to the FRA's notice,' the authority added. The federal government has given California until mid-July to respond to the review - if the CHSRA fails to provide satisfactory evidence of progress, the $4 billion in federal grants may be rescinded. In 2021, then-President Joe Biden restored a $929 million grant for the high-speed rail, funds which Trump had revoked in 2019 after he called the project a 'disaster,' Reuters reported. Now, all eyes are on the Golden State's response and whether the innovative rail project can overcome its financial and logistical challenges. The California High-Speed Rail System is a planned two-phase 800-mile system with speeds of up to 220 miles per hour that aims to connect San Francisco to Los Angeles/Anaheim and in the second phase extend north to Sacramento and south to San Diego .
Arab News
04-06-2025
- Business
- Arab News
Trump administration may rescind $4 billion for California High-Speed Rail project
WASHINGTON: The Trump administration said Wednesday there is no viable path forward for California's High-Speed Rail project and warned it may rescind $4 billion in government funding in the coming weeks. The US Transportation Department released a 315-page report from the Federal Railroad Administration that cited missed deadlines, budget shortfalls and questionable ridership projections. One key issue cited is that California has not identified $7 billion in additional funding needed to build an initial 171-mile segment between Merced and Bakersfield, California. USDOT gave California until mid-July to respond and then the administration could terminate the grants. Trump said last month the US government would not pay for the project. The FRA report Wednesday said California had 'conned the taxpayer out of its $4 billion investment, with no viable plan to deliver even that partial segment on time.' The California High-Speed Rail System is a planned two-phase 800-mile system with speeds of up to 220 miles per hour that aims to connect San Francisco to Los Angeles/Anaheim and in the second phase extend north to Sacramento and south to San Diego. The California High-Speed Rail Authority said it strongly disagrees with the administration's conclusions 'which are misguided and do not reflect the substantial progress made to deliver high-speed rail in California.' It noted California, Governor Gavin Newsom's budget proposal before the legislature extends at least $1 billion per year in funding for the next 20 years 'providing the necessary resources to complete the project's initial operating segment.' The authority noted in May there is active civil construction along 119 miles in the state's Central Valley. Voters approved $10 billion for the project in 2008 but the costs have risen sharply. The Transportation Department under former President Joe Biden awarded the project about $4 billion. The entire San Francisco-to-Los Angeles project was initially supposed to be completed by 2020 for $33 billion but has now jumped from $89 billion to $128 billion. In 2021, Biden restored a $929 million grant for California's high-speed rail that Trump had revoked in 2019 after the Republican president called the project a 'disaster.'
Daily Mail
04-06-2025
- Business
- Daily Mail
Shock update on California's High-Speed Rail project - as insane amount of taxpayer money spent is revealed
The Trump administration is considering pulling federal funding from California 's High-Speed Rail project after the US Department of Transportation revealed no track has been laid despite nearly $7 billion in taxpayer funds spent over 15 years. The ambitious project, initially approved by voters in 2008 with a $10 billion budget, aimed to connect major cities in California, however, costs have escalated dramatically, with the total projected cost now ranging from $89 billion to $128 billion. The Federal Railroad Administration has since issued a scathing 315-page report which cites key issues with the troubled project including missed deadlines, budget overruns and unreliable ridership projections. The White House has now initiated a review to determine whether to rescind an additional $4 billion in federal grants allocated for the project's completion. The embattled rail line faces further roadblocks with a $7 billion funding gap for the Merced-to-Bakersfield segment, even before the Trump administration considers pulling the $4 billion in federal funds. US Transportation Secretary Sean Duffy criticized the years-long project, claiming there is 'no viable path' for the multi-billion dollar project's completion. 'This report exposes a cold, hard truth: CHSRA has no viable path to complete this project on time or on budget,' Duffy said. The entire San Francisco-to-Los Angeles project was initially supposed to be completed by 2020 for $33 billion, Reuters reported - but the project is far from completion of any phase. The Transportation Secretary emphasized that if the California High-Speed Rail Authority (CHSRA) cannot demonstrate progress, the federal government may redirect funds to other infrastructure projects. 'CHSRA is on notice - If they can't deliver on their end of the deal, it could soon be time for these funds to flow to other projects that can achieve President Trump's vision of building great, big, beautiful things again,' he said. 'Our country deserves high-speed rail that makes us proud - not boondoggle trains to nowhere.' In response, CHSRA defended the project, asserting that over 15,000 jobs have been created and 119 miles are under active construction. 'There is active civil construction along 119 miles in the Central Valley, resulting in over 15,000 construction jobs, and design and pre-construction activities are underway on the extensions to Merced and Bakersfield totaling 171 miles,' as per a CHSRA statement. The federal government has given California until mid-July to respond to the review - if the CHSRA fails to provide satisfactory evidence of progress, the $4 billion in federal grants may be rescinded. In 2021, then-President Joe Biden restored a $929 million grant for the high-speed rail, funds which Trump had revoked in 2019 after he called the project a 'disaster,' Reuters reported. Now, all eyes are on the Golden State's response and whether the innovative rail project can overcome its financial and logistical challenges. The California High-Speed Rail System is a planned two-phase 800-mile system with speeds of up to 220 miles per hour that aims to connect San Francisco to Los Angeles/Anaheim and in the second phase extend north to Sacramento and south to San Diego.
The Star
29-05-2025
- Business
- The Star
Tropicana sees sustained earnings with RM2.1bil unbilled sales
KUALA LUMPUR: Tropicana Corp Bhd 's unbilled sales of RM2.1bil as at March 31 place the company in a comfortable position to deliver sustainable earnings. The property developer believes that the demand for properties in prime locations in Tropicana's established, mature and developing townships will persist, with attractive pricing and various promotional packages. 'Further, the group expects improved sales especially for its properties in Johor, as a result of the Johor-Singapore Special Economic Zone, Johor Bahru-Singapore Rapid Transit System Link project, as well as the positive growth effects from the possible resuscitation of the High Speed Rail project. 'Premised on the expected demand, the group will continue to launch its properties at strategic locations across the Klang Valley, Genting Highlands, Northern and Southern Regions,' Tropicana said in the notes accompanying its financial results. In the first quarter ended March 31, Tropicana posted a net profit of RM1.3mil, or earnings per share 0.05 sen, compared with a net loss of RM9.08mil, or loss per share of 0.40 sen. Revenue for the quarter stood at RM260.4mil, down 10.6% from RM291.3mil. Tropicana said it will continue to leverage on its various sales initiatives and marketing campaigns to secure more sales and therefore remaining positive and confident on the long-term prospects of its property development business. In addition, the group will continue to develop and market its properties located at various strategic locations, which will in turn, translates to higher sales and positive contributions to the future earnings of the group. Tropicana's current landbank stood at 1,336.1 acres, with a total potential gross development value (GDV) of RM168.4bil.
Free Malaysia Today
28-05-2025
- Business
- Free Malaysia Today
Federal Court dismisses bid for leave to appeal HSR case
On Jan 1, 2021, Malaysia and Singapore announced the termination of the 350km high-speed rail project. (Bernama pic) PETALING JAYA : The Federal Court today dismissed Hatta Sanuri's application for leave to appeal in his attempt to reinstate a lawsuit challenging the cancellation of the Kuala Lumpur–Singapore High-Speed Rail (HSR) project. A three-member bench comprising Justices Zabariah Yusof, Abu Bakar Jais and Hanipah Farikullah unanimously ruled that the legal questions posed failed to meet the threshold under Section 96 of the Courts of Judicature Act 1964. Delivering the court's decision, Zabariah held that the matter was interlocutory in nature and did not involve any novel legal issue or question of public importance. She noted that the issues raised, specifically those relating to locus standi and justiciability, had been conclusively settled in existing case law. She also said the court viewed frivolous legal claims with seriousness and observed that the questions of law submitted were verbose and lacked precision. 'If the questions were drafted well, then maybe we could ventilate,' said Zabariah in dismissing Hatta's application for leave, with no order as to costs. This decision brings to an end Hatta's legal challenge against the government, former prime ministers Dr Mahathir Mohamad and Muhyiddin Yassin, former economic affairs minister Mustapa Mohamed and former transport minister Wee Ka Siong. Hatta had sought leave to appeal the Court of Appeal's decision on Jan 16, 2024, which upheld the High Court's ruling that his suit was non-justiciable and disclosed no reasonable cause of action. Hatta filed the suit on his behalf and on behalf of over 32 million Malaysians allegedly affected by the cancellation of the project on Dec 30, 2022. In the statement of claim, he sought an order for the court to declare the cancellation of the project null and void, as well as for all the defendants to pay RM1 million in compensation to him and all Malaysians for wrongfully and negligently cancelling the HSR project. On Jan 1, 2021, Malaysia and Singapore announced the termination of the 350km project after the two countries failed to reach an agreement on changes proposed by Malaysia before the project agreement expired on Dec 31, 2020. The project was expected to provide direct travel between Malaysia and Singapore, with a travelling time of 90 minutes from Kuala Lumpur to Singapore. Hatta was represented by counsel Mohaji Selamat, while senior federal counsel Donald Joseph Franklin appeared on behalf of the government.
