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Rail News: CSX Transportation
CSX is selling six rail lines
CSX is soliciting bids on six rail segments totaling more than 650 miles of track as part of the Class I's continuing strategy to sell under-used assets.
The lines may be purchased by one buyer or multiple buyers, or may not be sold at all depending on the bids received, CSX officials said in a press release.
The company is soliciting bids for the following non-contiguous properties:
• the Massena Line extending north from Syracuse, New York, to Canada;
• Baldwinsville Subdivision: a branch line west of Syracuse;
• West Albany and Rensselaer: a collection of properties near Albany, New York;
• Cumberland Valley: feeder lines extending east of Corbin, Kentucky;
• Eastern North Carolina: branch lines terminating in Grangers and Plymouth; and
• Marietta Subdivision: a branch line extending north out of Parkersburg, West Virginia.
CSX is committed to making sure local operators continue service for customers as it seeks buyers interested in cultivating and growing traffic on the lines, company officials said.
"CSX is reviewing every aspect of the company's network to be sure that each asset is maximized for efficiency and adds value to our company's long-term business needs," said President and Chief Executive Officer James Foote. "We believe these efforts will identify a robust pipeline of opportunities that will deliver material value to CSX over the next several years."
The effort is aimed at improving the performance of CSX's core network, enhancing its use of assets, reducing transit times and creating a more reliable product, officials said.
Prospective bidders may express their interest by following this link.
Contact Progressive Railroading editorial staff.