High-Speed Train Maker Hails White House's $50 Billion Rail Pledge

The Obama administration's pledge Tuesday to quintuple funding for high-speed rail projects drew immediate raves from train makers worldwide.

Alstom Transport North America, a division of the French train giant, was among the cheerleaders.

"We applaud the Obama administration for proposing a $50 billion-plus investment in both high-speed and traditional passenger rail," said Alstom North America Managing Director Guillaume Mehlman.

"As a leader in providing high-speed trains around the world and a company with significant rail manufacturing operations in the U.S., we are confident that such infrastructure investments in high-speed rail and traditional rail networks will make a significant contribution in creating jobs, lowering greenhouse gas emissions, and reducing dependence on foreign oil.

"We look forward to getting to work -- and putting people to work -- in building Americas new rail transportation network.

Alstom is among the prospective global bidders for Florida's proposed high-speed rail line between Tampa and Orlando. The company's partners include France's Vinci Concessions; Spains OHL USA; United States PBS&J, AECOM, Hubbard Construction and Archer Western Contractors; and UK's Virgin Group and Virgin Rail Group.