CSXT hikes PTC cost estimate to $1.2 billion
CSX Transportation now
expects to spend $1.2 billion or more developing and installing the crash
avoidance technology known as positive train control, which has been mandated
by a 2008 federal law, the Journal of Commerce reports. That is up from roughly
$750 million that CSXT previously estimated to put in PTC across its network as
required by the end of 2015. Company officials gave the new estimate in an
April 14 conference call with Wall Street analysts.
