US railroads to create new corridor
Canadian Pacific Kansas City (CPKC), CSX and Genesee & Wyoming have reached agreements to create a new direct CPKC-CSX interchange connection in Alabama, USA.
As part of the series of proposed transactions, CPKC and CSX would each acquire or operate portions of Meridian & Bigbee Railroad (MNBR), a G&W-owned railway in Mississippi and Alabama, to establish a new freight corridor connecting Mexico, Texas and the USA’s Southeast.
In exchange, G&W would acquire certain Canadian properties owned by CPKC and other rights. MNBR would receive rights to continue to provide local service to existing customers on former MNBR-owned lines and connect with other railroads without interchange restrictions. The deals are partly subject to regulatory review and approval. (ben)