Anaheim-Vegas super speed train gets approved for $7 billion from Chinese
Thursday, February 4, 2010
A Chinese government-controlled bank has agreed to loan $7 billion to help fund the “maglev” train, the proposed high-speed connection between Anaheim and Las Vegas, according to proponents for line.
A maglev train in Shanghai. (Photo courtesy Yosemite / Creative Commons)
The California-Nevada Super Speed Train Commission announced this week that the Export-Import Bank of China would provide a direct loan that would require the backing of the U.S. government.
If built, the maglev train would whisk passengers from Anaheim to Las Vegas in just more than an hour, running at speeds over 300 mph. It runs on magnetic forces that lift, propel and guide the cars over a track.
The project has many regulatory hurdles to overcome before it could be developed. The total cost is estimated at $12 billion. Read more about the announcement in the Las Vegas Sun.
Tags: Anaheim, high-speed train, Las Vegas, OCLNN
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Comment by: Dennis Carpenter Posted: February 4, 2010, 10:03 am
I have been a passenger on this type of train in Shanghai. The experience was enjoyable and similar to riding on an airplane. Building this train would be a fantastic step forward in how the world views the USA as a business and technology leader. Go for it!