YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
An $11 million low-interest loan has been issued by the Federal Railroad Administra-tion's Railroad Rehabilitation and Improvement Financing program for the improvement
of a portion of Missouri's rail system.
The announcement was made in an April 8 release issued by Sen. Jean Carnahan's office.
The funds will be used by the Arkansas & Missouri Railroad to purchase 140.5 miles of track from Burlington Northern Santa Fe.
It will also be used to provide general maintenance to existing track running between Monett and Fort Smith, Ark.
Loan funds will enable the railroad to undertake a $7.7 million track rehabilitation project designed to reduce derailment risk and hazardous spills. The term of the loan is 25 years.
Improvements to the existing rail segment between Monett and Fort Smith should ultimately benefit businesses linked to this rail use, said Tony Wyche, spokesman for Carnahan.
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