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XpressWest last month took steps to secure private debt funding for its $4.8 billion plan to build a 170-mile high-speed, electric rail line from Southern California to Las Vegas, the Los Angeles Times reported.
Owned by Florida-based Brightline, XpressWest officials told the LA Times the company has taken steps to secure private debt funding under bond programs operated by California, Nevada and the federal government.
If the funding is secured, rail line construction could begin later this year with service launching in 2023.
Brightline, soon to be known as Virgin Trains USA, acquired XpressWest in 2018. The Las Vegas line would be marketed as Virgin Trains.