Do you know the cost to San Jose?
After cost projections for the California high speed rail project rose to USD98 billion in 2011, vociferous public and political outcry forced officials to reassess. They cut the budget to USD68 billion by eliminating high-speed service between Los Angeles and Anaheim and between San Jose and San Francisco, wrote Ralph Vartabedian.
California HSR rail authority chief executive Jeff Morales said that those changes were a normal part of such a big project and that he could not rule out additional changes.
[$68-billion California bullet train project likely to overshoot budget and deadline targets, Ralph Vartabedian, Los Angeles Times, 24 Oct 2015]
[…] “Nobody can sit here and tell you what something like this is going to cost over a 20-year period,” Morales said. “Any big program like this is loaded with challenges. The day you hear me say I am comfortable is the day I am not telling you the truth or the day I have deluded myself.”
Last week, Network Rail’s chief executive Mark Carne told the House of Commons Public Accounts Committee that electrification of the Great Western Main Line was now estimated at between £2.5 bn and £2.8 bn — compared to £874 million at the start of 2013. He added that there would be more “bad news” in the forthcoming Peter Hendy review of the company’s modernisation programme.
[Network Rail’s new line meets schedule, Gill Plimmer, Financial Times, October 26, 2015,
[…] Tony Travers, director of the London School of Economics, said the budget inflation was “shocking evidence” of underlying problems at Network Rail. “This should terrify the Treasury if they look at even the starting cost of High Speed 2 [the proposed new £50bn railway line],” he added.