Amtrak Pursuing Private Investment to Support Northeast Corridor High-Speed Rail Plans

WASHINGTON – Amtrak said it is developing a business plan that will maximize the opportunity for private investment to finance the construction of infrastructure and the acquisition of equipment required to provide 220 mph (354 kph) next-generation high-speed rail service in the Northeast Corridor.

“Amtrak will aggressively pursue private investment, in combination with funding from the federal government and from other public sources, to achieve our goal of initiating true high-speed rail from Washington to Boston,” said Al Engel, Amtrak Vice President, High-Speed Rail.

In April, Amtrak issued a request for proposals for a fully implementable and robust business and financial plan where Amtrak is the key developer and operator of the high-speed rail system. It will identify and develop public and private funding sources and address fundamental issues of risk, credit, debt and investment phasing among other criteria.

The business plan also will include strategies and tactics for meeting the project delivery timelines and achieving financial targets, provide information for Amtrak’s FY 2013 federal budget request and lay out the strategy for subsequent forays into the private investment and capital markets. To date, numerous private investment firms have expressed interest in working with Amtrak. Proposals are due June 10.