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Construction of Virgin’s $4.8B California-Las Vegas bullet train line will start in Q3 2020

For Virgin to meet its target deadline it also needs the Nevada DOB to approve a $950 million private activity bond program in January or February. The $950 million includes $200 million from Nevada’s debt limit allocation and $150 million through the U.S. Department of Transportation.

Virgin already won bond approval in California. Last month, the state’s Infrastructure and Economic Development Bank authorized the issuance of $3.2 billion worth of tax-exempt, fixed-rate revenue bonds, the proceeds of which will be used for the construction of the line, which is being built under the name of Virgin affiliate DesertXpress Enterprises LLC and will operate as XpressWest.

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