(Bloomberg News circulated the following story by Angela Greiling Keane on February 4, 2010.)
WASHINGTON, D.C. — 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.”
Amtrak, which has about 1,800 railcars, trainsets and locomotives, has begun negotiating with suppliers of the new equipment, Chief Executive Officer Joseph Boardman told reporters last month. He said then that “it’s time to replace our aging fleet.”
Amtrak’s Acela high-speed trains are trainsets, meaning their locomotives and passenger cars operate as a unit.
President Barack Obama announced last week that 31 states will share $8 billion in federal funding to develop high-speed rail in the U.S. European and Asian countries have faster trains than the Acela, which serves New York and is the fastest passenger train in the U.S.