COLUMBUS, Ohio -- Billionaire investor Carl Icahn is backing a startup company that would build trains to run on President Barack Obama's high-speed rail network, challenging international manufacturers that dominate the market.
Icahn's American Railcar Industries Inc. said Thursday it has formed a joint venture with US Railcar LLC, a Columbus, Ohio-based company that aims to re-establish passenger train manufacturing in the United States.
Production would be based in Arkansas, where American Railcar has two freight car factories. Icahn Enterprises LP has a 54 percent stake of American Railcar, based in St. Charles, Mo.
The Obama administration in January awarded $8 billion in stimulus cash awarded to 13 high-speed rail corridors across the country.
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