CT Announces $120 Million for High-Speed Rail

State and federal officials have announced $120 million in federal funding to build part of a high-speed rail project between New Haven and Springfield, Mass.

The 62-mile project calls for service every 30 minutes during peak periods and every 60 minutes at other times. Speeds would reach up to 110 miles an hour.

Connecticut Gov. Dannel P. Malloy's office projects 1.26 million riders annually by 2030.

The money will be combined with $174 million in state bond financing. The funding announced on Monday brings to $191 million the federal commitment to the project. In total, $365 million in state and federal fundinghas been committed to the Connecticut portion of the New England rail system.

Copyright 2012 by The Associated Press