California Approves Bond Sale for Initial Work on $68 Billion HSR Project

Massive high-speed rail project is expected to break ground this summer.

The sale of $8.6 billion in voter-approved bonds for the first construction phase of California's $68 billion high-speed rail project recently gained approval from state officials. Some funds will go to upgrades of commuter rail systems.

Although the HSR project still faces some lawsuits, the approved sale of bonds signals a positive direction, according to the California High-Speed Rail Authority.

"It's another step towards the process of breaking ground on the nation's first high-speed rail system in California this summer," said CHSRA Chairman Dan Richard.

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Source: Reuters