Texas Central has reached an agreement with Texas-based Fluor Enterprises and The Lane Construction Co., based in Connecticut, to refine and update the high-speed rail's construction planning and sequencing. Under the agreement, after the development phase and financial close, Fluor and Lane would be the preferred design-builder of the roughly $12B project. Both firms have extensive experience in civil construction projects.

“This underscores the attention the Texas Bullet Train has received from world-class firms, wanting to be part of a project that will revolutionize travel here and generate long-lasting local economic benefits,” Texas Central CEO Carlos Aguilar said in a release.

The 240-mile high-speed rail project would take travelers between Dallas and Houston in less than 90 minutes, with one stop in Brazos County. More financing, land and federal approvals must be obtained before any work can begin. An environmental impact statement is still being assembled to determine the final route.