Private investor group acquires Iowa line from Union Pacific (10/6/2011)


North Central Iowa Rail Corridor L.L.C. recently signed a purchase agreement with Union Pacific Railroad to acquire a 28-mile line between Belmond and Forest City, Iowa.

UP had planned to abandon the Forest City Line, but North Central Iowa Rail Corridor — a group of private investors — sought to buy the route to serve agricultural product shippers. The line includes 600 feet of connecting track in Garner, Iowa.

North Central Iowa Rail Corridor also signed a 10-year lease agreement with Iowa Northern Railway Co. to operate the line. Iowa Northern will interchange with Canadian Pacific on the route.

Source: Progressive Railroading Daily News