LOUISVILLE & INDIANA RAILROAD AND CSX CLOSE ON JOINT
INFRASTRUCTURE UPGRADE PROJECT BETWEEN INDIANAPOLIS
AND LOUISVILLE
$100 million infrastructure investment to improve regional
freight flows and global connectivity
CHICAGO, Ill. and JACKSONVILLE, Fla. - June 19, 2015 -
Louisville & Indiana Railroad (L&I), a subsidiary of Anacostia Rail
Holdings, and CSX today announced the completion of an agreement that grants
CSX a permanent easement to operate over the L&I's 106-mile rail corridor
between Indianapolis and Louisville.
In addition to CSX's $10 million easement purchase, the two
companies finalized an operating agreement that provides for an additional $90
million in infrastructure upgrades over the next several years to improve the
track structure and right of way along this key freight route. The joint
project, which closed on June 17, 2015, was approved by the U.S. Surface
Transportation Board in April.
"CSX's investment of approximately $100 million will
provide enhanced rail access for the Port of Indiana-Jeffersonville, increase
capacity and efficiency along this corridor and improve connectivity to CSX's
broader network," said Oscar Munoz, president and chief operating officer,
CSX Corporation. "These critical infrastructure improvements include the
installation of new rail, upgrades to the rail bed structure and bridge
improvements to enhance safety and service for customers in the Midwest and provide more efficient rail service
throughout the region."
Over the next several months, 20 miles of new rail will be
installed along the southern portion of the line. In recognition of the
potential impact on local communities during and after construction,
representatives from both railroads in May began a series of joint meetings
with community leaders to provide project status updates and to address
concerns related to public safety, anticipated increases in freight volume and
construction plans.
"Since 2011, both L&I and CSX have coordinated with
state and local officials to discuss the upgrade of the line to support
manufacturers, farmers, marine ports and other contributors to the area's
economic growth," said John Goldman, president, Louisville & Indiana
Railroad. "As we undertake the first phase of construction, we will
continue to collaborate with local officials to plan and execute construction
activities to minimize disruptions to communities along the corridor."
About L&I
The Louisville & Indiana Railroad is based in Jeffersonville , Indiana
About Anacostia Rail Holdings
Anacostia Rail Holdings (www.anacostia.com) is a short line
railroad holding company. Its railroads operate in seven states and, in
addition to L&I, include the Chicago South Shore & South Bend Railroad,
Gulf Coast Switching Company, New York & Atlantic Railway, Northern Lines
Railway, LLC and Pacific Harbor Line, Inc.
About CSX
CSX, based in Jacksonville ,
Florida United States , where nearly
two-thirds of the nation's population resides. It also links more than 240
short-line railroads and more than 70 ocean, river and lake ports with major
population centers and farming towns alike. More information about CSX
Corporation and its subsidiaries is available at www.csx.com. Like us on
Facebook (http://www.facebook.com/OfficialCSX) and follow us on
Twitter (http://twitter.com/CSX).
Contacts:
Anacostia Rail Holdings
Peter Gilbertson, Chairman and CEO
312-324-7350
CSX
Kristin Seay, CSX Corporate Communications
404-350-5029