Rail

DART awarded $125M TIFIA loan for rail extension

Posted on December 14, 2012

U.S. Transportation Secretary Ray LaHood approved a nearly $120 million loan that will enable Dallas Area Rapid Transit (DART) to advance construction on the third phase of its light rail Orange Line extension project.

The extension, which will connect Irving, Texas, with Dallas Fort Worth Airport (DFW), is part of a long-term effort to create a 90-mile light rail network by 2014 to serve the Dallas metropolitan area.

DART’s $119.9 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan will help finance the $397 million Orange Line Phase III expansion. The 35-year direct loan will be used to fund construction of a key 5.17-mile segment of DART’s 14.5-mile light rail Orange Line.

Once completed, the expanded line will improve east-west connections between DFW and the DART system by connecting to the Green Line that runs through downtown Dallas as well as to other transit services, including commuter rail.

Since 1999, the TIFIA program has helped 30 projects turn $10.4 billion in credit assistance into $41.8 billion in infrastructure investment across America. The new surface transportation law, Moving Ahead for Progress in the 21st Century (MAP-21), transforms TIFIA into the largest transportation infrastructure loan program in history, making available up to $17 billion in credit assistance for critical infrastructure projects.

View comments or post a comment on this story. (0 Comments)

More News

SMART secures $11 million grant to buy 3 more rail cars

The three additional cars will boost SMART’s seating capacity by 35%, officials said. Because of the escalating costs for rail cars, the grant also was estimated to have saved taxpayers about $11 million, according to state officials,

Parsons Brinckerhoff under contract to deliver Calif. high-speed rail

Will begin work on a seven-year, $700 million rail delivery partner contract awarded by the California High-Speed Rail Authority earlier this month.

Alstom to supply 13 Coradia Lint regional trains to Danish network

The Coradia Lint 41 is an environmentally-friendly low-consumption Diesel Multiple Unit that can reach a maximum operating speed of up to 87 mph.

Bombardier to supply trains for Delhi Metro

The order for 162 MOVIA metro cars is valued at approximately $228 million, and delivery will begin in the third quarter of 2016.

Alstom completes hybrid locomotive for Volkswagen

The new generation of hybrid shunting locomotive will be used at Volkswagen’s Wolfsburg plant for zero-emission freight transport, making a sustainable contribution towards reducing CO2 emissions.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close