"A railroad is no different that a highway. "The whole thing is just a dream," said Alain Leray, president of SNCF America, the Maryland-based arm of the French national railway company. Company officials believe it can be completed in 2024. Those remarks came after Texas Central Partners announced last week it had secured a loan of up to $300 million from Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development and the Japan Bank for International Cooperation. by Adolfo Pesquera. SNCF America's plan for a 480-mile T-bone rail network would cost slightly more than Texas Central's Dallas-to-Houston line and far less than the total 763-mile, Dallas-Houston-San Antonio "Texas Triangle" that federal officials first envisioned three decades ago. Those loans are specifically designed to promote private investment in U.S. infrastructure. Business and Workforce Opportunity Policy announced, Construction build contract: Salini Impregilo, Lane Construction, FRA begins rulemaking for safety regulations (RPA), Joint ticketing agreement announced with Amtrak; Program manager: Bechtel, DEIS is released by FRA, final route and station locations selected, Milestone reached on land acquisition (30%), First round of capital raised from Texas investors, September 21, 2020 — Texas Central Railroad Reaches Two Historic Milestones, May 7, 2020 — Texas’ Thirteenth Court of Appeals Rules in Favor of Texas Central, September 13, 2019 — Texas Central Signs Design-Build Contract with Salini Impregilo to Build Texas High-Speed Train, September 4, 2019 — Texas High-Speed Train Announces Major Step Forward with FRA Action on Rule of Particular Applicability, April 8, 2019 — New travel study shows increased demand, ridership for Texas’ high-speed train, March 5, 2019 – Texas Central’s high-speed train named top global infrastructure project, February 21, 2019 — Texas Central selects financial advisers for privately funded high-speed train project, February 4, 2019 — Texas high-speed train picks environmental partner to manage ‘green infrastructure’ projects along route, October 10, 2018 — Texas Central names global railway company Renfe as its high-speed train operating partner, October 04, 2018 — Texas Central Reaches Another Milestone With Addition of Salini Impregilo for Limited Notice to Proceed, May 04, 2018 — Texas Central, Amtrak reach agreement to link Bullet Train and Amtrak’s interstate passenger network, May 02, 2018 — Texas Central Names Bechtel Project Manager for Bullet Train, February 5, 2018 — Texas Central picks preferred high-speed train passenger station in Houston, January 29, 2018 — Texas high-speed train unveils passenger station in Dallas, Texas Central Railroad Reaches Two Historic Milestones, Environmental Impact Statement Advances Texas High-Speed Train Project, Texas’ Thirteenth Court of Appeals Rules in Favor of Texas Central. Ray Leszcynski. Mr. Keith previously co-founded and served as chief investment officer of HKS Capital Advisors, a boutique investment advisory firm founded in 2011. ABOUT: Texas Central is the investor-led company undertaking the development, design, construction, finance, and operation of the innovative new high-speed passenger train line that will connect the fourth and fifth largest economies in the country, North Texas and Greater Houston, in less than 90 minutes, with one stop in the Brazos Valley. Prior to HKS Capital Advisors, Mr. Keith was formerly the Global Chief Executive Officer of RREEF/Deutsche Bank Infrastructure Investments, where he managed the worldwide operations of the firm’s infrastructure funds management businesses. "We are a train operator. Ray has written about the people, cities and ISDs of Dallas' northern and eastern suburbs for more than eight years. Rival blasts Texas bullet-train firm's private funding plan saying it's 'just a dream', The Concert Truck puts Dallas Symphony musicians on the road in D-FW, Dallas County at ‘very dangerous point,’ Jenkins says in announcement of 1,304 new coronavirus cases. All rights reserved. Tim B. Keith serves as Chief Investment Officer of Texas Central, a private, Texas-based company that is developing a high-speed passenger railway that will connect Dallas and Houston. Texas Central is the company undertaking the development, design, construction, finance, and operation of the innovative new high-speed passenger train line that will connect the fourth and fifth largest economies in the country, North Texas and Greater Houston, in less than 90 minutes, with one stop in the Brazos Valley. As a seasoned executive and investor with nearly 25 years of financial and operational experience in large real estate and infrastructure projects, Mr. Keith has developed key relationships and perspectives critical to Texas Central’s success. To serve the Texas market, Texas Central anticipates an eight-car train with seating capacity for an estimated 400 passengers, and the room necessary to provide passengers with unparalleled comfort, amenities and service options they will expect and deserve. HKS Capital Advisors provides investment advisory services and fund management expertise to high net worth investors with a focus on private enterprise transactions. "It's not going to happen on private financing.". ABOUT: Texas Central is the investor-led company undertaking the development, design, construction, finance, and operation of the innovative new high-speed passenger train line that will connect the fourth and fifth largest economies in the country, North Texas and Greater Houston, in less than 90 minutes, with one stop in the Brazos Valley. That drew the ire of SNCF, which has a rival plan to bring speedy rail service to the state. A competitor of the company trying to build a Dallas-to-Houston bullet-train connection has blasted the notion that a high-speed rail line can be built without public money. Texas Central is the investor-led company undertaking the development, design, construction, finance, and operation of the innovative new high-speed passenger train line that will connect the fourth and fifth largest economies in the country, North Texas and Greater Houston, in less than 90 minutes, with one stop in the Brazos Valley. Those remarks came after Texas Central Partners announced last week it had secured a loan of up to $300 million from Japan Overseas Infrastructure Investment Corp. for Transport & … The company last spring lobbied state legislators to consider its plan to serve the Interstate 35 corridor with "higher-speed" rail, rather than bullet-train technology. Cabinet watch: Which Texans might end up working in Joe Biden’s administration? He had a 10-year career with RREEF/Deutsche Bank, a New York-based global alternative asset management firm, where he held various senior executive positions and served on the firm’s Global Executive Committee. Either the taxpayers pay or it doesn't happen.". "Texas Central is no different than any other major corporation," Texas Central said in the statement. 1. If you have billions of dollars, chances are that you're not stupid," Leray said. SNCF America officials said Texans will choose the technology they want, but that Shinkansen "lacks inter-operability" with other rail and sets the Japanese supplier up for a monopoly in the U.S. Texas Central has criticized the French plan extensively in a two-page comparison graphic. The civil infrastructure costs (or hard costs) for the project will be around $20 billion, which includes the construction of the lines, tracks, viaducts, berms, maintenance facilities, power sub stations and three passenger stations. He spent several years as a news editor and also has an extensive background in sports. THE TECHNOLOGY: JRC’s Series N700 Supreme rolling stock, the newest generation of Shinkansen high-speed trains, feature 16-car trainsets that operate between Tokyo and Osaka, Japan. Copyright © 2020 The Dallas Morning News.