Foreign loan provides big financial boost for Texas High Speed Rail

High speed rail in Texas is one step closer to becoming a reality.

Texas Central, the company implementing the high-speed train between Houston and north Texas, announced it has secured a loan of up to $300 million.

It comes from the Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC).

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Texas Central will use the funds for permitting, design and engineering.

Construction is expected to launch sometime in 2019.

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