Amtrak is asking investors to submit proposals by June 10 to help finance its plan for 220-mile-per- hour train service in the Northeast corridor, Al Engel, vice president of high-speed rail, said. “We want to engage the private sector as much as we can,” Engel said at a press briefing today at the U.S. passenger rail service’s Washington headquarters.
Amtrak’s $117 billion plan calls for the taxpayer-supported railroad to develop and operate the high-speed service. It would be completed by 2040 and serve the corridor between Boston and Washington. At least half the money would need to come from government sources, Engel said.
“Twenty-six entities have applied” after a request for proposals “and a number of them are investment bankers,” Engel said. “I don’t expect to get 26 proposals,” he added.
“We’re moving as fast as we can, as soon as we can, to line up the funding to advance the program,” Engel said. He declined to say how much money Amtrak hopes to get from investors.
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