McCarthys construction validity: ‘We’re getting close’
The construction of the $3.9 billion McCarthy Dam project is on track to begin in the second quarter of 2021, the project’s developer, McCarthies construction subsidiary, has confirmed.
“We’re close to beginning construction,” McCarthics chief executive John O’Connor told The Wall Street Journal on Wednesday.
The project’s $3 billion price tag is far more than the $1.2 billion cost of a proposed dam in Southern California, which was approved in December by the California State Water Resources Control Board.
The dam, expected to provide more than 400 megawatts of power, is expected to be operational in 2020.
The McCarthyscree dam would have an area of approximately 13.4 million acres and is expected not to exceed 7.5 megawatts.
It will be built on land owned by McCarthymys construction subsidiary BNSF Railway and be built in the northern part of the California Desert, said John McCarthyns chief executive officer, in a statement to the WSJ.
The company is also seeking $500 million in federal loan guarantees.
The loan guarantees are contingent on McCarthypres construction being able to meet other financial commitments.
In addition to the McCarthyd Dam, BNSf Railway owns the Southern California Pacific Railway (SCLP) and the California Southern Railway (CSR) and operates a number of freight railroads in the region.
The proposed dam is the largest in the state and is also the third dam on the CSR.
The $3bn McCarthyth dam is being built on a portion of the CSX rail line from the Sacramento-San Joaquin Valley to San Francisco.
Construction of the dam is expected in 2020The McCarthys construction contract, which calls for construction of two dams, the $2.6 billion McCarthur Dam and the $500m McCarthyr Dam, calls for the construction of a second dam on an area in the San Francisco Bay area and the construction or operation of a third dam at the site of the first dam.
The construction of McCarthyares second dam will be in the Southern San Joaquin Basin, where it is expected that the first one would be built.
The $500million McCarthyre dam would be located at a location south of the San Joao-Sacramento-Oakland metropolitan area.
The first dam was built in 2011.