Korean companies are expected to bid for the $1.25bn high-speed railway project in the US state of Florida.

According to officials at the Korea Business Center in Miami, this could be a favourable time for Korean companies to bid for the project as the state government is expected to be in search of new businesses for essential technology at the right price.

Work on the project will begin this month as the US Government announced an $8bn investment in passenger rail services nationwide.

Florida plans for an initial construction of a 136km link between Tampa and Orlando and then a 366km connector between Orlando and Miami beginning in 2013.

In 2003, the state government selected a consortium of Korean and Canadian companies as one of the top bidders for the high-speed railway project.