18 Nov

Japan wants to help build a maglev line on the East Coast, and is offering to help pay

Japan offers to foot a good portion of a maglev train line (speeds over 300mph) on the East Coast. Holy shit people, do this already!

“To build the proposed American line, Japan has come up with a method of financing that is similarly novel. In a meeting with President Obama last winter, Prime Minister Shinzo Abe offered to provide the maglev guideway and propulsion system at no cost for the first portion of the line, linking Washington and Baltimore.

‘We are going to share this technology with the United States because the United States is our indispensable ally,’ said Yoshiyuki Kasai, chairman of the Central Japan Railway Company, which runs the maglev test track and is building the Tokyo-Osaka line.

Officials have not placed a dollar figure on the value of the aid but say it would cover close to half of the overall cost of construction. Based on the estimated cost of the maglev line from Tokyo to Osaka, which is more than $300 million per mile, that means the Japanese financing could be worth about $5 billion.”

(Via Japan Pitches Americans on Its Maglev Train – NYTimes.com.)