High speed rail could still be coming to Florida.

A year after Gov. Rick Scott rejected the first phase from Orlando to Tampa, a private company began negotiations Friday to connect Orlando and Miami international airports.

The Board of Directors at OIA has always had an eye to the south. Plans for a new south terminal fell through with the economic downturn last decade.

But at a meeting this week, they not only resurrected those plans, but started looking a lot farther south to Miami.

Airport directors were approached with the idea of a train connecting to the two major Florida airports by Florida East Coast Rail Industries.

“They certainly have backing from a large investment organization," said OIA Executive Director Phil Brown. "They appear to be committed to wanting to move forward.”

The company still needs to build or acquire 40 miles of railroad near Orlando. But if got here, the railroad could connect easily to the same lines used by the monorails currently moving passengers to terminals.

The new terminal and intermodal facility could cost well over $1 billion to construct. They would be designed to handle four rail lines, including SunRail.

The airport expansion hasn't gained formal approval, but is expected to happen sometime between 2013 and 2018.

Airport directors think international traffic will support the expansion, but the question remains on whether enough people would ride the rail.

“If it's cheaper to fly to Miami, then people will take the train up. Otherwise, they will just fly here,” said Steve Verall, who was waiting on his flight home to England.

“It's a matter of price sensitivity and what kind of value you give the passengers," Brown said. "That's really going to make or break the operation.”

Negotiations are just getting started on these two major projects.

OIA staff need to negotiate with the airlines to add flights and staff for the new terminal, and with the railway on exactly who pay for the corridor.