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Norfolk Southern to buy Cincinnati rail line for US$1.62 billion
来源：shippingazette 编辑：编辑部 发布：2022/11/28 09:13:55
NORFOLK Southern is acquiring Cincinnati Southern Railway (CSR) for US$1.62 billion, reports Bloomberg.
The move will tighten the company's grip on a 337-mile line it already operates under a lease agreement.
The city plans to use the proceeds for an infrastructure fund to update and replace local streets, bridges, municipal buildings, parks, and green space.
The deal gives Norfolk Southern 9,500 acres of land under the line, which runs from Cincinnati to Chattanooga.
CSR is operated by a Norfolk Southern subsidiary under a lease agreement expiring in 2026. The transaction is expected to close in the first half of 2024.
The move will tighten the company's grip on a 337-mile line it already operates under a lease agreement.
The city plans to use the proceeds for an infrastructure fund to update and replace local streets, bridges, municipal buildings, parks, and green space.
The deal gives Norfolk Southern 9,500 acres of land under the line, which runs from Cincinnati to Chattanooga.
CSR is operated by a Norfolk Southern subsidiary under a lease agreement expiring in 2026. The transaction is expected to close in the first half of 2024.