$16B Texas Private Deal Is Finalized

摘要

Nearly two years after a design-build contract was awarded to a team headed by the Lane Construction Corp. and its parent and joint-venture partner, Webuild Group, to build a highspeed railway between Dallas and Houston for private developer Texas Central Railroad LLC, the final $16-billion project agreement has been signed. This moves the design-build project to the advanced design stage and also finalizes its cost. The contract agreement follows the June 18 decision by the Texas Supreme Court not to hear an appeal of an eminent domain lawsuit brought by landowners, although other legal and funding challenges remain. Construction is now set to begin at the end of 2021 or early 2022, says Erin Ragsdale, a Texas Central spokeswoman. After full notice to proceed, the project has a six-to-seven-year base construction schedule, she adds.