The Chicago Transit Authority (CTA) has awarded a €2.6 billion (US$2.9 billion) contract to the Walsh-Vinci Transit Community Partners consortium for the design and construction of the 9 km Red Line extension to the city's metro network. The consortium consists of Walsh Construction, Vinci Construction, EXP, Systra, and other subcontractors. The preparatory work is scheduled to begin before the end of 2024, with the main construction due to start at the end of 2025 and be completed by 2030. The extension will run from the existing southern terminus at 95th Street to four new stations at 103rd, 111th, Michigan near 116th and 130th Streets. The new section will provide faster connections from the Far South Side to the rest of the city. As part of the contract, Walsh-Vinci Transit Community Partners has committed to providing training, local jobs, and opportunities for small and disadvantaged companies. CTA plans to issue bonds to finance the increase in the project's total budget from €3.7 billion to €4.8 billion. In this regard, the authority cited an increase in construction, labour, and material costs of more than 60% from 2020 to 2023.
