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Rail News Home Rail Industry Trends

9/9/2010



Rail News: Rail Industry Trends

CP, Saskatchewan reach conditional agreement on Regina land sale


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Canadian Pacific and the government of Saskatchewan recently reached a conditional sale agreement concerning land in Regina for the site of a proposed multi-purpose entertainment facility.

The pact ensures the land is available if the province decides to build the facility, said Saskatchewan officials in a prepared statement. The agreement also enables CP to plan operations in Regina “with greater certainty” and without any impact to service, said CP Vice President of Finance Don Campbell.

Last year, Crown Investments Corp. approached CP about purchasing land and certain adjacent properties in Regina. A downtown location was identified as the preferred location for a multi-purpose entertainment facility and railroad officials agreed to enter land sale negotiations with the province. The conditional agreement calls for CP to be compensated if the Class I needs to relocate operations because of the project.

The Saskatchewan government expects to make a final decision in fall regarding whether or not to build the facility.


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