WASHINGTON — The Iowa Northern Railway (IANR), a short line freight carrier located in northeastern Iowa, is receiving a $25.5 million loan from the Federal Railroad Administration (FRA).
The funds will be used to: upgrade mainline track from Linn to Waterloo and from Cedar Falls to Manly; construct new sidings at Palo, Shell Rock, and Nora Springs; and rehabilitate rail yards in Waterloo and Manly.
These improvements will allow the railroad to accommodate heavier railcars and move freight more quickly, safely, and efficiently, according to the FRA. Agricultural products account for most of the cargo carried by the IANR, but in recent years demand for ethanol shipments has grown.
The loan, which is to be repaid over a period of 25 years, was provided under the FRA’s Railroad Rehabilitation and Improvement Financing (RRIF) program.
— Special to Railfanning.org News Wire