(KMJ)- Representative Jeff Denham (R -Turlock) called on construction company Parsons Brinckerhoff to release its updated cost report recently presented to the California High Speed Rail Authority. And late Tuesday Night, the firm finally did so.
The report shows that the cost of building the first segment from Burbank to Merced had grown from $27.3 billion to $35.7 billion, not including future inflation. The state publishes most of its public cost figures with future inflation included, which would translate the cost of the initial segment from the current $31 billion to about $40 billion, based on the Parsons Brinckerhoff estimates.
The document also shows the cost of the entire project would increase by about 5%, going from $54.4 billion to $56.9 billion without inflation. If future inflation is included, based on the Parsons Brinckerhoff inflation estimates, the total project cost would go from $68 billion to more than $71 billion.
The Parsons Brinckerhoff cost estimate projected that some of the initial cost increases would be offset by later savings, though that may come too late to help the program.
