Latest Breaking News On - Virgin trains united states - Page 32 : comparemela.com
Virgin sues partner over claims about its brand value
bbc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bbc.com Daily Mail and Mail on Sunday newspapers.
Virgin Sues US Train Operator For $250M For Dropping Name
law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
Dive Brief:
Despite a financing hiccup and rising costs, construction on Brightline West s high-speed train between Southern California and Las Vegas is set to break ground in the second quarter of this year, according to a letter from the rail company to the Nevada High-Speed Rail Authority. Previous estimates had the cost of the rail at almost $5 billion, but the most recent estimates have jumped to $8 billion.
After owner Fortress Investment Group failed to sell enough bonds by a Dec. 1, 2020 deadline, Sarah Watterson, president of Brightline West affiliate DesertXpress Enterprises, said the rail company will initiate another bond sale this year and provide more equity for the project as the economy recovers from the COVID-19 pandemic.
News Highlights: With a revised plan, Brightline looks at Apple Valley’s groundbreaking 2021 rail project
Brightline West’s high-speed train project between Apple Valley and Las Vegas, expected to break ground last year, appears to be back on track six months after a partnership with Virgin Trains USA ended.
Last year, Brightline announced that Fortress Investment Group, its parent company, had slowed down the privately funded $ 8 billion XpressWest project when it failed to complete funding.
But earlier this month, Sarah Watterson, president of Brightline West, said her company was preparing a revised financial plan for the project that could be a groundbreaking second quarter 2021 date.