According to California High Speed Rail Authority’s latest report, the project’s cost has increased by almost USD 2 billion, to USD 79.1 billion for the first phase. The costs for Central Valley section, currently under construction, increased from USD 10.8 billion to USD 12.4 billion. The report says that the costs of Silicon Valley – Central Valley line increase from USD 25.1 billion to USD 31.3 billion.
The base estimates for both the Silicon Valley to Central Valley line and the Phase 1 system were increased by USD 1.8 billion to reflect the additional USD 1.8 billion which is comprised of the Central Valley Segment scope changes (USD 362 million), higher cost estimates (USD 477 million) and the recommended additional contingency for risk (USD 990 million).
The Authority’s 2012 Business Plan used a Phase 1 system cost range of USD 68.4 billion to USD 117.6 billion in year of expenditure dollars, a range of USD 49.2 billion. This range was based on authority’s phasing plan at that time and on the schedule assumptions used as the basis for preparing a year of expenditure estimate.
In the seven years since, the authority has advanced environmental work on project sections and has now identified preferred alternatives for all but the two Northern California sections. Based on the updated knowledge that the authority now has, the 2018 Business Plan narrowed the Phase 1 system cost range to a low of USD 63.2 billion to a high of USD 98.1 billion, a range of USD 34.9 billion.
According to the report, the 275-km Central Valley line is expected to be completed in 2028.