Hochtief subsidiary Flatiron has secured a $1.23 billion contract to construct a 60-plus mile portion of new high speed rail between Los Angeles and San Francisco as part of a joint venture team.

The project will be the first high-speed rail system in the US, said a statement.

Marcelino Fernández Verdes, chairman of the executive board, said: “This is an example of significant investment in new and upgraded transport infrastructure in the United States and a major step ahead for Hochtief Group.”

The California High Speed Rail Package 2-3, a design-build project, was awarded to a joint venture team of Dragados US and Flatiron by the California High-Speed Rail Authority.

The project will run through California’s Central Valley and include construction of at-grade and aerial sections of high speed train infrastructure, grade separation structure, relocation of 5.5 miles of existing tracks, waterway crossings, roadway reconstructions and utility relocations.

The design phase of the project will take approximately 18 months, with constructions starting in late next year.

The project is estimated to be complete in approximately 48 months.

When complete, the route is expected to provide environmental benefits, relieve roadway congestion, spur economic development and bring new jobs to the Central Valley. - TradeArabia News Service