A joint venture between one of Hochtief’s North American subsidiaries, Flatiron, and Dragados USA has won the US$ 1.23 billion contract to construct a 60 mile (97 km) stretch of the high speed rail between Los Angeles and San Francisco. Hochtief is controlled by Spanish contractor ACS, and Dragados USA is a wholly-owned subsidiary of the company as well.
The California High Speed Rail Package 2-3 is a design-build project awarded by the California High-Speed Rail Authority. The project runs through California’s Central Valley and includes construction of at-grade and aerial sections of high speed train infrastructure, grade separation structures, relocation of 5.5 miles (8.8 km) of existing track, waterway crossings, roads and utilities.
Hochtief expects the design phase of the project to take some 18 months, with constructions starting in late 2016. Completion is expected in four years.
Hochtief Executive Board chairman Marcelino Fernández Verdes said, "This is an example of significant investment in new and upgraded transport infrastructure in the United States and a major step ahead for Hochtief Group.”