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A Japanese public-private fund has announced its intention to invest $40 million in Texas Central Partners LLP's proposed bullet-train service between Houston and Dallas.
The Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development (JOIN) received approval from Japan's Minister of Land, Infrastructure, Transport and Tourism on Nov. 21 to invest in the Texas project, JOIN officials said in a press release.Texas Central plans to adopt high-speed train technology known as N700-I Bullet, which is based on Central Japan Railway's Tokaido Shinkansen system.JOIN's participation in the project would focus on equity investment and business planning, officials said."We especially hope that this project will showcase Japan's shinkansen system in the United States, which is not yet familiar with the high-speed railway," JOIN officials said. "At the same time, we hope it will substantially contribute to promote Japan's shinkansen technology outside of Japan."Texas Central, a private company, has proposed building a 240-mile railway that would connect Dallas and Houston in about 90 minutes. Company officials expect to begin offering the privately owned train service in 2021.