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Rail News: M&A

Carolina Coastal Railway leases North Carolina line from NS

Carolina Coastal Railway (CLNA) recently leased a 142-mile line between Raleigh and Plymouth, N.C., from Norfolk Southern Railway.

The line connects with CLNA’s existing 17-mile line between Pinetown and Belhaven, N.C., which the short line leased from NS in 1989. The transaction includes trackage rights for an additional eight miles.

CLNA will interchange with NS in Chocowinity, N.C., and Raleigh (after an out-of-service segment reopens in fall). Owned by Main Line Rail Management, the short line also interchanges with CSX Transportation in Greenville and Wilson, N.C.

CLNA previously was owned by Rail Link Inc., which became a Genesee & Wyoming Inc. subsidiary in 1995. Main Line Rail Management acquired the short line in 2003.

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More News from 8/8/2007