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Re:New York to London in an hour - by train by mostly_harmless on Tuesday June 12, 2012 @06:48PM (#4103361)
I feel that most of the cost is for tunneling and the difficulties of working in such a space as a subway system. as for normal railroads, a quick googling shows that the cost is much more conservative, with a 1995 estimate[1] stating about $250,000 per mile to rehabilitate an existing railroad.

[1] http://tacnet.missouri.org/history/railroads/rrcosts.html

Re:New York to London in an hour - by train by psyklic on Tuesday June 12, 2012 @07:24PM (#4103461)
Light rail is above ground, often operating alongside street traffic.