Citi and MUFG were selected by Texas Central as the financial advisers for the high-speed rail project. Texas Central, which is developing the high-speed line between Houston and North Texas, said Citi will serve as sole global coordinator and lead financial adviser and MUFG as co-global financial adviser. Citi and MUFG will assist in securing the financing across debt and equity to finance the project.
Recently, Renfe and Adif were named as the strategic partners for the development, construction, exploitation, operation and maintenance of the future 386-km high-speed line. The Spanish companies will provide technical advice on the design and construction of the Texas high-speed train and assist in the further development of Texas Central’s operation and maintenance plans, preparing the railroad for passenger service. The operator will run the trains, maintain system components, such as the engines, signals and other equipment, oversee ticketing, passenger loyalty programs and other services.
In addition, Salini Impregilo, which operates the U.S. market with The Lane Construction Corporation, signed a limited notice to proceed to lead the civil construction consortium that will build the Texas HSR, connecting Houston and North Texas. Bechtel is the project manager for the project under a contract signed in 2018.
In January 2019, Texas Central selected Resource Environmental Solutions (RES) as the project’s provider of ecological mitigation services to help protect and enhance natural ecosystems and the environment throughout construction and operations. RES will help Texas Central meet or exceed regulatory requirements for environmental mitigation, and it proactively will collaborate with community leaders to identify local and regional conservation opportunities.