The government of Alberta is considering a private sector rail project connecting Edmonton and Calgary that has secured investment from a Chinese state-owned company.
The Alberta government is partnering with Toronto-based TransPod for a fully electric, 1,000 kilometre-per-hour rail line between Edmonton and Calgary which would reduce the trip to 45 minutes from around three hours by vehicle. Transpod signed a memorandum of understanding (MOU) with the Government of Alberta for the project in August 2020, which is a pretext to a contract, and not a binding contract.
In March 2022, TransPod announced that the UK-based Broughton Capital Group, in cooperation with China-East Resources Import & Export Co. (CERIECO), agreed in principle to provide a combined US $550 million finance and Master EPC arrangement respectively, to accelerate the development of the multibillion-dollar hyperloop. CERIECO is a Chinese state-owned company with independent legal status….