Texas Central secures loan of up to $300 million from leading global financial institutions

 

DALLAS – Sept. 12, 2018 – Texas Central, the company implementing the high-speed train between Houston and North Texas, announced today it has secured a loan of up to $300 million from the Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC).

Texas Central will use the funds to move ahead on permitting, design and engineering, as well as other early works needed to launch construction during 2019.

 This interest-bearing loan, along with the equity provided to date – the majority coming from Texas entrepreneurs – will provide enough funding for all activities required for the project to reach financial close.

 The Texas project will inject an estimated $36 billion in economic benefits statewide over the next 25 years, including creating 10,000 direct jobs per year during construction and 1,500 permanent jobs when operational.

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