The Chinese will help to build a high-speed highway from Las Vegas to Los Angeles

The China Railway Rolling Stock Corporation (CRRC Corp), the world's largest train manufacturer, and the American Xpresswest signed an agreement on the creation of a joint venture that will develop a project to build a high-speed railway line from Las Vegas to Los Angeles. This was reported in a joint press release from the parties.

The total project cost is estimated at $ 5 billion, reports Reuters . The initial capital of the joint venture will be $ 100 million, but it is still unknown how the parties will attract the rest of the funds.

Sources of the Los Angeles Times newspaper claim that the construction of the railway can begin in September 2016. It is noted that this is the first such project of the Chinese company in the United States.

It is assumed that after the completion of the construction, the travel time between the two cities will be one hour 20 minutes, and the ticket cost - $ 89. The length of the highway will reach 230 miles (about 370 kilometers).

La Times indicates that Xpresswest has been discussing the possibility of building a branch between Las Vegas and Los Angeles since 2007. The company received the approval of the project from the authorities in 2011.