Developer to Build First Non-subsidized Private Rail Line in U.S.

Florida East Coast Industries expects construction on All Aboard Florida - a $1 billion link between Miami and Orlando - to begin in 2013.

A Miami real estate and transportation company announced Wednesday that it plans to go ahead with a $1 billion project to build a privately run passenger train service between Miami and Orlando to begin operations by the end of 2014.

Florida East Coast Industries, which operates the Florida East Coast Railway freight line, said its "All Aboard Florida" project is financially viable without any need for federal and state grants or subsidies.

Construction is expected to begin in early 2013.

(More on Miami-to-Orlando private passenger rail . . .