This just in from the Associated Press should not surprise anyone who has been paying the least amount of attention
SACRAMENTO, Calif. -- Building tracks for the first section of California's proposed high-speed rail line will cost $2.9 billion to $6.8 billion more than originally estimated, raising questions about the affordability of the nation's most ambitious rail project at a time when its planning and finances are under fire.
A 2009 business plan developed for the California High-Speed Authority, the entity overseeing the project, estimated costs at about $7.1 billion for the equivalent stretch of tracks. Officials say those estimates were made before detailed engineering work and feedback from communities along the proposed route.
The latest estimates are contained in two environmental impact studies that were shared with The Associated Press before their public release on Tuesday.
The rail authority's chief executive, Roelof van Ark, said planners anticipated the higher costs as more information about land acquisition and other details related to actual construction became known.
"We've had cost increases, but I believe the costs are now realistic and fair," he said.
Van Ark also said he expects the estimated total cost of the project, originally pegged at $43 billion, to rise.
I love how he still throws around the $43B number when anyone who has been paying attention is already at $64-67B and rising! Oh well, this is not news but will be fun to look back on when they break $100B.
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