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Amtrak Looks To Private Investors To Help Upgrade Northeast Line

DOW JONES NEWSWIRES Amtrak said it is soliciting proposals from private investors to help upgrade its heavily trafficked Northeast Corridor to eventually accommodate passenger trains that can travel at 220 miles per hour. Many private investment firms have already expressed interest, the federally subsidized passenger rail operator said. Proposals are due June 10. Amtrak last month issued a request for proposals for a business and financial plan that keeps it as the key developer and operator of the high-speed rail system. The latest plan comes two days after Amtrak's top executive said the system's financial losses are projected to widen this year despite rising ridership. Amtrak blames the red ink on rising compensation costs for union workers and increased costs for fuel, materials and other expenses. It is making money on the heavily traveled Northeast Corridor but losing money on long-distance routes. Amtrak said high speed rail will further boost ridership along the populous Boston-to-Washington route, eventually allowing the system to operate in a more cost-efficient way. It is taking a step-by-step approach to the improvements, first upgrading a 24-mile section of the corridor's infrastructure to support speeds of up to 160 mph. "Amtrak will aggressively pursue private investment, in combination with funding from the federal government and from other public sources, to achieve our goal of initiating true high-speed rail from Washington to Boston," Vice President Al Engel said. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; [email protected]

Stock News for American Tower (AMT)
DateTimeHeadline
01/20/201716:30:00American Tower Corporation Announces Tax Reporting Information...
01/19/201717:27:45Amended Statement of Ownership (sc 13g/a)
01/12/201716:37:36Statement of Changes in Beneficial Ownership (4)
01/11/201716:36:53Current Report Filing (8-k)
01/11/201716:30:00American Tower Corporation Calls for Redemption All of Its Outstanding...
12/21/201616:30:00American Tower Corporation to Webcast Keynote at the 2017 Citi...
12/19/201608:07:14Current Report Filing (8-k)
12/19/201608:00:00ATC Europe Announces Acquisition of FPS Towers in France
12/14/201616:40:41Current Report Filing (8-k)
12/14/201616:40:15Statement of Changes in Beneficial Ownership (4)
12/14/201616:30:00American Tower Corporation Declares Quarterly Distribution
12/08/201616:46:00Current Report Filing (8-k)
12/07/201616:17:00Statement of Changes in Beneficial Ownership (4)
12/06/201612:14:00Equinix to Buy Some Verizon Data Centers for $3.6 Billion...
12/06/201611:00:00Equinix to Buy Some Verizon Data Centers for $3.6 Billion
12/06/201610:20:00Equinix to Buy Some Verizon Data Centers for $3.6 Billion
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12/05/201616:50:17Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
11/30/201616:59:07Current Report Filing (8-k)
11/28/201616:38:00American Tower to Speak at the UBS Global Media and Communications...

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