Canadian National closed the sale of a rail line in Quebec to Agence métropolitaine de transports (AMT) for CA$97 million (US$87 million). The line is principally used by AMT commuter trains between Deux-Montagnes and Montreal's Central Station.
AMT, a government agency that reports to the Quebec transport minister, oversees public transport services in the Greater Montreal area. AMT is acquiring CN’s entire Deux-Montagnes Subdivision, a 21-mile corridor, which runs from St-Eustache to the entrance of Montreal’s Central Station, and includes the Mount Royal tunnel.
CN will retain freight operating rights over a portion of the line sold to AMT where freight customers are located.
AMT says that this acquisition will produce an annual savings of approximately CA$5.2 million (US$4.7 million) by eliminating rent costs, increase its flexibility in the line and provide better service to customers.
AMT says the purchase contributes to achieving the Quebec government’s objective, which is to ensure that 95 percent of passenger trips are powered by electricity by 2030.