US DOT grants $255m TIFIA loan to Chicago Transit Authority for new railcars

The US Department of Transportation (DOT) has provided a $255m loan to the Chicago Transit Authority (CTA) to buy new railcars in order to improve transit service in Chicago. The Transportation Infrastructure Finance and Innovation Act (TIFIA) loan will help to modernise one of the oldest and busiest transit systems in the country. US transportation secretary Anthony Foxx said: “This funding will bring state-of-the-art railcars to serve Chicago’s communities, helping to expand economic opportunity and socioeconomic mobility throughout the Chicago area.” The loan will be used to buy 490 railcars, which will help meet growing ridership demand and improve security with up-to-date technology. The technologically advanced vehicles, which will replace nearly one third of the ageing railcars in CTA’s entire fleet, will help to reduce energy and maintenance costs.