Brightline West to launch fundraising initiative for SoCal to Vegas railway

The project has an estimated cost of $16bn.

Brightline West, a company backed by Fortress Investment Group, has announced plans to raise cash for its high-speed passenger railroad between Southern California and Las Vegas, according to a recent Bloomberg report.

The 218-mile railway would give travelers an additional option for making the trek from California to Las Vegas. Trains would be able to travel at speeds reaching as fast as 220 miles per hour once the railway is finished. The route will be from Los Angeles suburb Rancho Cucamonga to Las Vegas, according to the local report.

The trip would take nearly two hours one way.

According to the Bloomberg report, the project has an estimated $16bn price tag.

However, project costs are rising due to materials and because of high demand “caused by the proliferation of data centers, power plants and transportation projects,” the Bloomberg report said.

Chief Executive Officer Mike Reininger told reporters the company plans to refinance $2.5bn of its March issued debt. Reininger said this could happen as soon as next month.

Refinancing plans were also discussed in a recent conference call with project investors.

Reininger further commented, “It will probably not be a surprise to anyone, that we are experiencing a construction market right now that is seeing increasing costs. We are definitely not alone in this situation.”

He added, “The new plan that we are working on includes materially more equity,”

Laura Mack

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