Canadian Rail to Beef Up Freight Services26 September 2007 15:58 Canadian rail company Canadian National Rail (CN Rail) is to buy most of the Elgin, Joliet & Eastern (EJ&J) Railway from steel manufacturer US Steel Corp for $300m to add capacity and bypass congestion, a Bloomberg report says. CN Rail plans to invest about $100m for integration, new connections and infrastructure improvements to add capacity on the Chicago area EJ&E line. US Steel will retain a portion of the freight line, according to both companies. The agreement is subject to approval by the US Surface Transportation Board, which if successful should be complete by mid-2008. » Email this link to a friend |
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