SOURCE: Las Vegas Railway Express, Inc.

Las Vegas Railway Express, Inc.

March 07, 2012 17:00 ET

State of Nevada Department of Transportation Supports Las Vegas Railway Express, Inc. -- "X" Train -- as Short Term Passenger Rail Solution

LAS VEGAS, NV--(Marketwire - Mar 7, 2012) - Las Vegas Railway Express, Inc. ("X" Train) (OTCBB: XTRN) announced today that The State of Nevada Department of Transportation (NDOT) supports the X Train as the viable short term conventional passenger rail project in the state of Nevada for the 0-5 year time frame. The determination was presented by the NDOT at a public meeting on February 13, 2012 in Las Vegas where the NDOT made public its findings as part of the statewide Nevada State Rail Plan www.nvrailplan.com. The NDOT conducted a comprehensive interview process with over 30 stakeholders such as railroad companies, Amtrak, governmental transportation agencies and private project parties. The X Train was selected as a project targeted for support by the NDOT.

NDOT support identifies access to public funding of various project types for the X Train including infrastructure improvement, RRIF loans, TIGER Grants, EDA Grants and other financing sources which could be of value to the X Train. The Company plans to pursue these opportunities and funding sources exclusive to passenger rail projects.

About Las Vegas Railway Express, Inc.

Las Vegas Railway Express, Inc. has been planning for the establishment of a "Vegas-style" passenger train service between Los Angeles and Las Vegas since early 2009. Roundtrip service is planned for Thursday through Monday each week with an introductory price of $99 each way which includes a First Class accommodation and all-inclusive food & beverage, just like the airline industry. In addition, the "X" Train will also offer the ability for its passengers to book hotel rooms, transportation transfers, entertainment & show tickets and other travel incidentals. For more information, please visit the Company website at www.vegasxtrain.com.

Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Las Vegas Railway Express, Inc.
    Mr. Michael Barron
    CEO
    Email Contact
    (702) 583-6715