XpressWest has terminated its joint venture activities with China Railway International U.S.A. (CRI) regarding the Nevada-California high-speed passenger rail project.
In September 2015, XpressWest and CRI commenced joint venture activities intended to advance the substantial work already completed by XpressWest. XpressWest selected CRI to assist develop, finance, build and potentially operate the XpressWest rail project connecting Las Vegas, Nevada to Los Angeles, California.
The decision to terminate the relationship was based primarily upon difficulties associated with timely performance and CRI’s challenges in obtaining required authority to proceed with required development activities.
XpressWest stated that it would remain dedicated to completing its high-speed passenger rail project and would pursue other available development partnerships and options expected to result in a more efficient and cost-effective project implementation experience.
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