Monday, August 29, 2011

Indiana Rail Road Co. to invest $65 million in Hiawatha Yard

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Indiana Rail Road Company President and Chief Executive Officer Thomas Hoback, along with state of Indiana and Greene County officials, plan to announce a major capital investment and participate in a groundbreaking ceremony at INRD's Hiawatha Yard near Jasonville, Ind., at 11 a.m. (ET) Monday, Aug. 29.

Hiawatha Yard is the operational heart of the 500-mile Indiana Rail Road system, which is headquartered in Indianapolis and provides nearly 200 jobs in central and southwest Indiana and east-central Illinois.

The announcement is part of a $65-million, five-year investment plan INRD is undertaking to prepare for explosive growth in its rail traffic over the next five years. INRD's current traffic levels take the equivalent of 800,000 truckloads of freight off highways each year.

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