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Rail News: Short Lines & Regionals
Pacific Imperial Railroad's new owner to rebuild Desert Line
Investment company Conatus Capital Group Inc. has acquired a majority interest in Pacific Imperial Railroad (PIR), and named Arturo Alemany as president and chief executive officer.
Alemany has more than 25 years of experience in international business development and operations in the United States, Europe and Latin America. He has 10 years of prior railroad experience with Amtrak, and is president and CEO of Alemany and Associates.
The new investment in PIR will help the railroad reconstruct the Desert Line. The project will upgrade a 70.4-mile section of rail line starting at the Mexico/California border and joining with Union Pacific Railroad in Plaster City, Calif.
"The project is a major regional international economic development initiative that has the support of the best qualified investors, advisers and representation that will significantly improve the movement of goods along this section of track," said Alemany in a press release.
He added that the "the support of San Diego Metropolitan Transit System, the San Diego Chamber of Commerce and the South EDC have been instrumental in assisting the rehabilitation of the Desert Line for the Cali-Baja mega region."
Contact Progressive Railroading editorial staff.