August 26, 2009

AND THE GERMANS WILL EVEN MAKE THEM RUN ON TIME:

Siemens and Deutsche Plan US High-Speed Rail Offensive: German engineering giant Siemens and national railway operator Deutsche Bahn are making plans to penetrate the US rail market. They hope to benefit from President Obama's promised $8 billion in investments in the country's high-speed railway infrastructure. (Der Spiegel, 8.26.09)

Europe's largest engineering company, Siemens, and German national railway operator Deutsche Bahn AG announced on Saturday that they are hoping to jointly enter the US high-speed rail business.

Both companies have been hurt by the global financial crisis and are hoping to find a boost in profits from US President Barack Obama's plans to invest up to $8 billion (€5.6 billion) in the US rail sector. Obama's plan, which was unveiled in April, envisions creating up to 10 new high-speed rail corridors between major cities, such as Miami and Orlando as well as San Francisco and Los Angeles, with trains travelling at top speeds of over 150 mph (240 kph). For the 2010 fiscal year budget, Obama has proposed a separate, additional €5 billion investment in high-speed rail service.

According to information obtained by SPIEGEL, as part of the proposed joint effort, Siemens would supply high-speed ICE-3 trains and transport technology, while Deutsche Bahn would be in charge of operating the rail links. The latter company's consulting division, DB International, has already started looking into how to implement the plan.


The point has to be to connect Miami and LA.

Posted by Orrin Judd at August 26, 2009 10:02 AM
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