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Rail News: M&A

RailAmerica's Indy short line to lease Fort Wayne corridor from CSXT

Yesterday, RailAmerica Inc. announced subsidiary Central Railroad Co. of Indianapolis has notified the Surface Transportation Board of its plan to lease a 276-mile line from CSX Transportation, pending negotiations and a definitive lease agreement.

Known as the Fort Wayne Corridor, the line runs west from Crestline, Ohio, to Tolleston, Ind., due east of Chicago. Central Railroad officials expect the 83-mile short line to move 42,000 carloads annually on the corridor.

RailAmerica's Indiana & Ohio Railway connects and interchanges with CSXT on the line. Norfolk Southern Railway, Indiana Harbor Belt Railroad Co., and all western & Chicago-based railroads also interchange on the corridor. CSXT currently serves Fort Wayne Corridor customers Central Soya, Steel Dynamics Inc., Procter & Gamble, Cargill, and National Lime & Stone, which ship agricultural products, chemicals, metals, paper and minerals.

RailAmerica owns and operates 47 regionals and short lines in the United States and Canada.

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More News from 5/26/2004