Surety Bonds

Texas: $16 Billion Agreement Signed

06.30.2021

The final design-build project agreement has been signed for a high-speed railway connecting Dallas and Houston. The $16 billion project now moves to advanced design, with construction expected to begin by early 2022.

 Speeding Up

With the Texas Supreme Court’s decision not to hear an eminent domain appeal by landowners, the path was cleared for Texas Central Railroad LLC to move forward with Lane Construction Group and it’s parent and joint venture partner, WeBuild Group. As ENR reports:

The final contract states that Lane and Webuild will execute the project’s heavy construction work, and design and build the track system’s 236 miles of alignment, along with train stations, and other buildings and facilities. The companies also will provide maintenance and equipment services.

 “We are excited to be part of this historic project that will bring high-speed rail to the United States,” said Mark Schiller, Lane Construction president and CEO, in a statement. “It’s a true milestone for our country’s sustainable transportation infrastructure.”

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  Moving at 200 Miles Per Hour!

 Based  on Central Japan Railway’s Tokaido Shinkansen system, the new rail line in Texas will enable 90 minute trips between Houston and Dallas, making one stop in the Brazos Valley. It is anticipated that over 400,000 passengers will use the line daily, reducing car travel and cutting greenhouse gas emissions by an estimated 101,000 tons annually.

 Across the country, public-private partnerships are resulting in many exciting new efforts toward speed and green. Billions are going to modernize airports and ports are getting long needed attention too. What about you? Stuck? Let’s get you moving with The Partnership Account®  from Colonial Surety Company. Then, you can go after lots more new projects with speed and confidence — knowing your bidding and financial information is secure.

 

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Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!

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