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. 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. Ray Leszcynski. "We are a train operator. 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. 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. 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. 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. 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. He was a partner of RREEF America LLC, prior to its acquisition by Deutsche Bank and served as chief executive officer of Cabot Industrial Trust after he led its privatization on behalf of RREEF clients. "It's not going to happen on private financing.". "At $45 million a mile, which private investor is going to be foolish enough to do this? 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 & … COST: 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. "The whole thing is just a dream," said Alain Leray, president of SNCF America, the Maryland-based arm of the French national railway company. Either the taxpayers pay or it doesn't happen.". 4. 1. 3. By signing up you agree to our privacy policy, Stand with us in our mission to discover and uncover the story of North Texas. 1. Those loans are specifically designed to promote private investment in U.S. infrastructure. 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. Cabinet watch: Which Texans might end up working in Joe Biden’s administration? More here. Additionally, as privately-owned infrastructure, it will pay taxes to the state, counties, local municipalities, school, hospital and community college districts as a result of the multi-billion-dollar infrastructure investment with 25% concentrated in rural areas. 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. Rail operations, Leray said, can be profitable. In a statement Tuesday, Texas Central said there's nothing preventing SNCF from building its own system here. 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. 5. Texas Central's rail line has stirred an urban-rural political divide and would cost billions of dollars. Mr. Keith previously co-founded and served as chief investment officer of HKS Capital Advisors, a boutique investment advisory firm founded in 2011. Get email alerts on breaking news stories as soon as they happen. 2. THE TOP FIVE THINGS TO KNOW. He and his wife Susan reside in Dallas and have two children. 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. "Texas Central is no different than any other major corporation," Texas Central said in the statement. Ray has written about the people, cities and ISDs of Dallas' northern and eastern suburbs for more than eight years. ECONOMIC IMPACT: The project will create an estimated 17,000 jobs during construction and more than 1,500 direct permanent jobs when the train is fully operational. That drew the ire of SNCF, which has a rival plan to bring speedy rail service to the state. 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. Texas Central's Dallas-to-Houston plan calls for the Shinkansen technology used on Japanese bullet trains. 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.