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Rail News: Maintenance Of Way
Iowa commission allocates funds for six freight-rail projects
The Iowa Transportation Commission last week approved more than $3 million in funding for six freight-rail infrastructure projects through the state's Railroad Revolving Loan and Grant Program.
The projects will support the creation and retention of 149 jobs within the next three years, spur industrial development at two locations and increase rail capacity at two agricultural cooperatives, commission members said in a press release. In addition, a bridge will be replaced to ensure customers' rail connections are kept intact during floods, they said.
The commission will provide:
• a $1.45 million loan for the Heartland Co-op Greenfield Rail Loading Elevator in Fairfield;
• a $725,000 loan for the Cedar Rapids and Iowa City Railway Co.'s Amana Millrace and Price Creek bridge replacement in Amana;
• a $245,000 loan and $174,000 grant for Iowa Corn Processors' rail expansion in Glidden;
• a $174,000 loan and $150,000 grant for HF Clor-Alkali L.L.C.'s rail project in Eddyville;
• a $108,000 grant for Owen Industries Inc.'s metals processing building in Carter Lake; and
• a $94,000 planning study grant for the city of Knoxville's Red Rock Industrial Park.
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