By Graham Hill
VILLA co-owner Wes Edens and fellow billionaire Richard Branson are teaming up on a £2.2billion railway project in the USA.
Edens, co-founder of Fortress Investment Group LLC, and Virgin Group’s Branson are looking to attract investors for the project.
Virgin Trains USA hope to raise about $500 million in an initial public offering that would value the company at about $3 billion.
Its line connecting Miami and West Palm Beach is the first major private intercity rail service built in more than a century.
Edens’ idea is to connect cities that are “too long to drive, too short to fly”.
The pair plan to add stops in Orlando and Tampa and fund a similar project connecting Las Vegas and southern California – which will require several billion more dollars according to.
Branson told bloomberg.com in November: “We transformed domestic air travel with Virgin America. Tens of millions of Americans travel on the railways every day, and we have tried for over a decade to find an opportunity to provide them with that same excellent service experience.”