Meanwhile, Texas Central’s projected cost of its plan has risen from $12 billion to $20 billion to $30 billion. In January, an attorney for Texas Central said during a court hearing that the company had raised more than $400 million. In 2018, the Japan Bank for International Cooperation, agreed to loan up to $300 million to the company. Securities and Exchange Commission records show Texas Central Partners raised $75 million from private investors in 2015. Waller County Judge Trey Duhon, who is also president of the board of the group Texans Against High-Speed Rail, says the company appears to not have the money or resources to build the project. Opponents of the plan have questioned Texas Central’s finances. “It should not impact the timing of the court’s decision or the court’s ruling.” Aguilar’s departure does not have any effect on the pending appeal in the Texas Supreme Court,” Texas Central said in a statement. The court is expected to rule within the next several weeks.
representatives from Texas recently filed a brief supporting the landowners in their legal fight against the railroad. Texas Attorney General Ken Paxton has sided against the company’s use of eminent domain, and three U.S. The case, which is currently before the Supreme Court of Texas, hinges on whether Texas Central counts as a “railroad company” under the state’s transportation code, which would determine whether it can use eminent domain to acquire land. The effort has also endured a years-long legal battle over its efforts to acquire land for the project. As ENR previously reported, the company laid off nearly 30 employees in 2020, blaming the COVID-19 pandemic. Texas Central also announced Spanish train operator Renfe as the early operator for its planned railroad. and Webuild to serve as design-build lead. for core electrical systems installation, and a $16-billion contract with The Lane Construction Corp. Last year, Texas Central announced the signing of a $1.6-billion contract with Kiewit Infrastructure South Co. The company has said it would take just 90 minutes to travel between Dallas and Houston on its high-speed service.
TEXAS HIGH SPEED RAIL ROUTE PLUS
“Texas Central Partners LLC and its employees have been working with an experienced team at FTI Consulting for several months to continue the work on the innovative project to bring their high-speed passenger train line to Texas,” FTI said in a statement.Īs ENR previously reported, the plans for the project call for construction of about 236 miles of track plus stations and other related equipment. For now, Lawless says the company is being managed by Michael Bui, a senior managing director at FTI Consulting who specializes in “liquidity forecast development, business plan development and analyses, collateral evaluations and recovery assessment and contingency planning,” according to his company biography, and who has advised various clients through events like distress, bankruptcy, reorganization and sale. It was not immediately clear who would succeed Aguilar. “While I could not align our current stakeholders on a common vision for a path forward, I wish the project the greatest success and remain convinced of the importance of this venture for the safety and prosperity of all Texans,” he wrote.
Carlos Aguilar, who had been president and CEO, announced that he had left the company in a LinkedIn post June 12 following reporting by Spanish business news outlet La Información that most of the company’s management team had left the project.
0 kommentar(er)
