An update on financials of Ansaldo Honolulu, a key contractor for the planned $5.3 billion rail system, should be coming "any time soon," said the interim executive director for the Honolulu Authority for Rapid Transportation. 

The rail board’s Audit/Legal Matters and Project Oversight committees received an update on the procurement process for the design, construction, operations and maintenance contract during a meeting Thursday. 

Ansaldo Honolulu was selected for the contract. But the procurement process has been embroiled in controversy, as the two losing bidders have filed protests and appeals.