CSX commits additional $160 million to National Gateway

Written by jrood

CSX will invest $160 million over the next several years to complete what it calls one of the most important transportation projects in the country - the National Gateway. This project will deliver substantial public benefits, including thousands of jobs.

"Through the National Gateway, CSX and its public partners are working
together to vastly improve the quality and flexibility of the eastern
rail network," said Michael J. Ward, CSX chairman, president and chief
executive officer. "With today’s new $160 million commitment, CSX will
have obligated a total of about $575 million over several years to
better meet the needs of our customers, our states and our ports."

Total
project costs are approximately $850 million and state and federal
partners are investing more than $280 million to help secure the
substantial public benefits of the National Gateway. These public
partners recognize that investing in the quality of the transportation
infrastructure is essential for American competitiveness.

The
National Gateway investment will be made over several years and, taken
together, represent one of the largest project investments in company
history. The amounts are included in the company’s long-term capital
plans.

Most of the $160 million investment announced today will
expand and improve the century-old Virginia Avenue Tunnel in Washington,
D.C. and provide double-stack train clearances in Maryland, West
Virginia and the District of Columbia.

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