Texas Central High-Speed Rail, the planned project to connect Houston to Dallas/Fort Worth in less than 90 minutes, is prepped and ready to advance, but is acknowledging the potential impact the COVID-19 pandemic could have on those plans.
“This is one of those moments where we have to acknowledge how small our world really is,” said Carlos Aguilar, CEO of Texas Central High-Speed Rail. “Our engineering partner is in Italy, our operations partner is in Spain and our technology provider is in Japan. Our financial partners are in those countries, as well as here in the United States. Understanding the impact of COVID-19, and the challenges those countries and the U.S. are facing, is a new fact of life. We are already implementing work from home and other measures to deal with the crisis, but still do not know what other impacts this will have.”
Aguilar says the project is ready to move to the construction phase once it acquires the needed approval from the Federal Railroad Administration, which is anticipated by July 31. Additionally, Aguilar says the construction phase will be dependent on the stabilization of global financial markets.
“From an execution standpoint, the project is shovel-ready. Once we receive our permit approval, our ability to begin construction will be contingent upon financial entities in the United States, Europe and Japan, all of which are dealing with urgent priorities generated by COVID-19, completing their due diligence process,” said Aguilar. “Like other companies and organizations around the world, we are trying to make the best use of the funding we currently have, paying close attention to COVID-19 updates and putting plans in place to move our project forward as soon as the world is on the other side of this uncharted territory.”
