Honolulu’s $5.2B Rail Proposal Lands $1.6B Federal Grant

Law360, New York (November 20, 2012, 5:53 PM EST) -- Honolulu’s $5.2 billion plan to build a passenger rail system aimed at relieving traffic congestion in Hawaii’s capital will get a $1.55 billion shot in the arm from the federal government, members of the Aloha State’s congressional delegation announced late Monday.

The U.S. Senate Committee on Appropriation received official notice from the Federal Transit Administration that it intends to sign a full funding grant agreement for the project, according to a statement from committee Chairman Daniel K. Inouye, D-Hawaii.

“We have discussed and debated the merits...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.