Bullet train draws investors

Three investors from Fort Worth, Dallas and Houston see enough potential in a proposed private Houston-Dallas high-speed rail line that they’ve joined a list of people who will commit $75 million to it.

That’s a long way from covering the cost of the project, estimated to be as much as $10 billion, but it’s a highly significant step forward. Backers say bullet trains could be up and running on the Texas Central Railway by 2021.

Fort Worth fund manager John Kleinheinz, Dallas developer Jack Matthews and Houston entrepreneur Drayton McLane head the new investor list.

The biggest name associated with the project is Central Japan Railway, which will share technology from its Tokyo-Osaka high-speed line. That name itself can be expected to draw investors.

There’s a lot to be done, including a federal environmental review, before construction can begin. But signs are encouraging.

This story was originally published July 23, 2015 at 5:49 PM with the headline "Bullet train draws investors."