Canadian Pacific Railway and the city of Vancouver, British Columbia, Canada have agreed to terms for the sale by CP of the Arbutus Corridor to the city for CA$55 million (US$41.4 million).
Less than a week before the rail industry gathers in Washington, D.C., to promote issues, such as the 45G shortline tax credit, legislation was introduced in both houses of Congress that would make the tax credit permanent.
The U.S. Department of Transportation (USDOT) is soliciting applications for a new grant program authorized by the Fixing America's Surface Transportation (FAST) Act.
A study evaluating high-capacity transit options for Ann Arbor, Mich., and the University of Michigan found that a light-rail route would be the recommended mode of transport over other alternatives.
BNSF revealed more details about its planned 2016 capital expenditure program in New Mexico. The railroad said the $100-million plan is focused on projects that help ensure BNSF continues to operate a safe and reliable network and reflects the success BNSF has had in adding capacity in prior years to support customer demand.
Kansas City Southern identified the International Rail Bridge at Laredo/Nuevo Laredo as an opportunity to improve operational efficiency and a candidate for the Business Process Improvement (BPI) Program in 2015.
Genesee & Wyoming Inc. (G&W) will target a $225 million capital program in 2016, which is down approximately 28 percent when compared to its 2015 spend of $315 million.
Norfolk Southern has a planned capital improvement budget of $2.1 billion in 2016, which is $300 million less than its record $2.4 billion capital plan in 2015.
BNSF Railway released plans for a $4.3 billion 2016 capital expenditure program focuses on helping to ensure the company continues to operate a safe and reliable network this year and beyond.
Kansas City Southern estimates its 2016 capital program will be between $580-590 million, which represents an approximate 10 percent decline from its $649 million program in 2015.