Hochtief says wins $1.23 billion U.S. rail contract

[June 19, 2015]  FRANKFURT (Reuters) - Hochtief said its subsidiary Flatiron had won a $1.23 billion contract to construct the first high-speed rail system in the United States as part of a joint venture team.

The joint venture of Dragados USA and Flatiron will build a 60 mile-plus (97 km) portion of new high-speed rail between Los Angeles and San Francisco, with construction starting in late 2016 and expected to take around four years, it said. (Reporting by Georgina Prodha; editing by Thomas Atkins) [© 2015 Thomson Reuters. All rights reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.