DALLAS HOUSTON HSR TRUMPETING JAPANESE INTEREST BEARING LOAN…
STILL ONLY HAVE LESS THAN 2% OF NEEDED FUNDS
The Proposed Dallas Houston HSR Received a Notes Purchase Agreement from the Japan Overseas Infrastructure Investment Corps for Transport & Urban Development (JOIN) for up to $300M
Jewett, Texas – Although the proposed Dallas Houston HSR project is trumpeting having received a maximum $300M loan backed by JOIN and the Japan Bank for International Cooperation (JBIC), Texans Against High-Speed Rail is strongly refuting reports that characterize the loan as enough to “finish the project” or even “clear the way” for construction. Nothing could be further from the truth.
With simple math and deductive reasoning, it’s clear this interest bearing loan, which if fully funded, would inject less than 2% of needed funds to construct the $18B-$20B project, is necessary for Japan to move it’s project along since the “Texas-based investments” have dried up and there aren’t enough domestic investors lining up to support the project into the next phase. Additionally, previous investors are nervous that their investment has been squandered on buying influence, propaganda, and a huge amount of wasteful spending.
Kyle Workman, president of Texans Against HSR, said of this most recent ploy, “This project has long wanted to be recognized as a Texas project in spite of all the evidence to the contrary. This loan is further proof that this is not a transportation solution for Texas but simply an attempt by the Japanese to export their antiquated 1950’s HSR technology. It is clear, the primary funding source for this project is the Japanese Government; no one domestically wants to lend money to this boondoggle. This latest news does nothing to change the facts…Texas Central is not a railroad, has no authority to condemn property, has only a fraction of the money necessary, has no approval(s) to construct, has no regulatory framework in which to operate their ride, and therefore cannot execute this business venture even if they had all the funding. Simply put, this is just another waste of Japanese taxpayer dollars, spent on lobbyists, consultants, and the harassment of hardworking Texans.”
Workman went on to say, “We are concerned that this is yet another unchecked attempt to mislead the public to believe this project is progressing forward and is inevitable. The company currently has no permission to operate, much less construct, this proposed HSR. Do not be misled.”