Skip Navigation Links
Front Page
About GNSExpand About GNS
Business/Industry
CommunitiesExpand Communities
EducationExpand Education
Entertainment
Links Directory
Maritime
Medicine & Science
Opinion/ForumExpand Opinion/Forum
Public Safety
Transportation
Weather


GRCC Bay Area Houston Economic Partnership
Forum
Guidry News Forum
Statement from SNCF America, Inc. Regarding Texas Central Partners, LLC Loan Announcement
News Release
Tuesday, September 18, 2018

AUSTIN – SNCF America, Inc. releases the following statement in response to recent reports that Texas Central Partners, LLC has secured a $300 million loan from two Japanese-government entities to pay for the continued development of its proposed Dallas-to-Houston high-speed rail project. The debt holders of the new loan are the Japan Bank for International Cooperation (JBIC) [1] and the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN)[2]. JOIN previously made an equity investment in Texas Central Partners, LLC of $40 million in 2015[3].

Scott Dunaway, spokesperson for SNCF America, stated “Texas Central Partners comes clean on its empty promise of private funding led by Texas investors. Now Japanese taxpayer funds are being loaned to finance the planned Dallas to Houston rail. Two Japanese-government agencies are supporting an attempt to corner the market with technology that lacks interoperability and creates a monopoly on the future of Texas high-speed rail. This project is right for Japanese companies subsidized by Japanese taxpayers and wrong for Texas. Nowhere in the world have high-speed rail projects become reality without government participation. The flawed design of this particular project will likely eliminate future rail service along the Interstate-35 growth corridor for generations. Texans must regain control of the high-speed transportation policy debate in the state and thoughtfully consider alternative planning.”

[1] “As JBIC has its shares wholly owned by the Government of Japan, it is subject to the control of the Japanese government, its sole shareholder.” https://www.jbic.go.jp/en/about/governance.html retrieved September 12, 2018.

[2] JOIN is 87% owned by the Government of Japan. http://www.join-future.co.jp/english/about/shareholders.html retrieved September 12, 2018.

[3] TCRH is a wholly owned subsidiary of Texas Central Partners, LLC, into which JOIN made equity investment in an amount of USD 40 million. http://www.join-future.co.jp/english/news/pdf/20151121_01_01.pdf retrieved September 13, 2018.


 




Remembering Jim Guidry November 6, 2018 Election Returns


Guidry News Service is headquartered in Midtown Houston.
at 4001 Fannin Street, Suite 4109, Houston, TX. 77004-4077
(409) 763 NEWS(6397)         News@GuidryNews.com
© 1996, Guidry News Service. Duplication of any part of this website in any manner is prohibited.