A company that started building a $60 million, magnetically levitated passenger rail system in Las Vegas has abandoned the project, leaving behind concrete track pillars and an unfinished station.
Magnetic Transit of America Inc. cited financial difficulties and "reasons beyond our control" for pulling out of the elevated rail project Thursday."It has become increasingly evident that termination is the only responsible business decision to be made," said MTA President John Kapala. The company had been rebuffed in an effort to link the proposed system with the Las Vegas Strip.
MTA had built a dozen track pillars and a station at the Children's Museum in the new downtown library as part of its plan to run a 1.1-mile magnetically levitated system through the downtown area.