Congressman thank you for your remarks, we're in the midst of the largest re-fleeting in Amtrak's history. So, part of what we've been trying to do is conserve our cash. And our balance sheet now. We just got an investment grade upgrade, because we bought the new locomotives for the National Network, the Siemens Charger locomotives which will ensure that the long-distance network and the National Network has a really good locomotive fleet. So, that was number one.
Number two is the newest Acela trainsets, 29 of them, will start delivering in 2021, they're being made in New York.
Number three, we have got to replace the Amfleet I fleet, which is the Northeast Regional fleet. In the quarter, it has to be replaced. It's going to reach the end of its life.
We have, you know, we get some criticism for holding cash on our balance sheet, but we're holding that cash cause we need to spend, probably about $2 billion, to re-fleet the Northeast Corridor, and the state-supported network.
We aren't going to ask our state partners to help fund that, we want to fund it directly from Amtrak, but it's probably the most critical thing we need to do in the Corridor, is replace the Amfleet I's and Amfleet II's. I think that order, and the tough thing is there's just not that many people who make this equipment, but we should have that order placed in the next six months.
And we hope to go to modern unit trains, much like Europe. You know, where you have basically, you don't need a cab car or a cafe car in the corridor, it will be much like the Acela, in the Regional fleet.
Then our goal is, once we do that, is to have more stops on the corridor and connect more cities up and down the corridor and have the flexibility with a lighter weight, less expensive, more energy-efficient, less emission trainset, to be able to do the expansion that the national network really needs. And we have all those locations identified where corridor service with a modern trainset could be very effective and help us grow Amtrak, grow Amtrak jobs and serve the American public more effectively.