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Price for Calif. high-speed rail drops to $68.4B

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Updated: 3/31/2012 1:10 pm

SACRAMENTO, Calif. (AP) — The price tag for California's ambitious high-speed rail project has dropped to $68.4 billion, a $30 billion decline over a highly criticized draft plan released last fall.

The first full section of track will now be expanded, stretching from Merced to the San Fernando Valley, and is expected to be completed in a decade.

That's a significant change from the previous plan, which had been criticized as proposing a "train to nowhere" between two remote Central Valley cities.

The Sacramento Bee first reported some of the key details late Friday night. A source familiar with the plan who spoke on condition of anonymity because he was not authorized to discuss the matter publicly confirmed the drop in price and relayed other elements of the updated plan to The Associated Press.

 

©2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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