California bullet train may need $150 million for overruns

California High-Speed Rail Authority employees are warning of possible cost overruns on the first segment of the bullet train, not long after construction began.

Finance officials told rail board members Tuesday that the project could need another $150 million for the first 29-mile segment near Fresno.

In all, that could push contingency costs $260 million higher than the board already has approved for the entire first section.

Spokeswoman Lisa Marie Alley says the figures relayed Tuesday are only a warning to the board, not an indication that costs have actually gone up.

The project has been plagued by delays in acquiring land and a slow start to design work.

The bullet train is currently projected to cost $68 billion, but officials are expected to release an updated business plan soon.