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DALLAS (CBSDFW.COM) – The Texas company behind an effort to build a high-speed rail between Dallas and Houston has announced a major step forward in the project.

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It’s raised 75-million dollars in private investments, which will help move the project into its second phase: development planning.

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The bullet train would cut the three and a half hour drive to just 90 minutes.

Investors hope to have it up and running as early as the year 2021.

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