Amtrak, the U.S. long-distance passenger railroad, said it needs $11 billion in new rail equipment during the next 14 years and is examining ways to fund the purchases.

A report released today by the Washington-based carrier outlined the plan and possible sources of capital, including money set aside by Congress, U.S. loans and commercial financing. The equipment includes 25 high-speed “trainsets” like those used in the Northeast Corridor between Washington and Boston, 334 locomotives and 1,200 rail cars, Amtrak said.

“We have been concurrently looking at funding options” while writing the fleet plan, Steve Kulm, an Amtrak spokesman, said in an interview. “And now we can focus all our efforts on funding options.”

Source: Bloomberg Business Week >>> continue reading

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