Europe Hopes To Cash In On U.S. High Speed Train Explosion

hsr bullettrain front

Transportation Secretary Ray LaHood, is riding the rails in Europe to see which trains suits his liking, before the U.S. expands its shoddy train system.

Execs from French, German and Spanish train companies are all hope they’ll be able to eat a slice of $13 billion pie the Obama administration is cooking up for expanded rail plans.

WSJ: “Participating in the U.S. high-speed train is part of our [long-term] strategy,” said Marcelino Fernández, president of ACS’s construction unit, Dragados. lines.

State-owned railways including Spain’s Renfe and France’s state railway company, Société Nationale des Chemins de Fer, or SNCF, have said they are interested in running U.S. rail networks.

Officials from both SNCF and Alstom will be part of a delegation led by French Transport Minister Dominique Bussereau that will travel to the U.S. next week to promote French high-speed technology.

“We see that there’s now a huge, huge interest in the U.S.,” said Joern F. Sens, chief executive of Siemens’s rolling stock unit. Siemens believes the global railway business will be worth more than $150 billion a year by 2016, and “a major share of that will be in the U.S.,” Mr. Sens said.

 

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