(Reuters circulated the following article on May 2.)
VANCOUVER, British Columbia — Canadian Pacific Railway said on Monday it may sell or find a partner for its isolated Latta Subdivision rail line in southern Indiana after being approached by potential buyers.
“We’ve been approached in the past. What’s different this time is we’re inviting bids,” said Laura Baenen, a spokeswoman for the Calgary, Alberta-based railway’s U.S. operations.
CP is eyeing options including a sale or “new operating arrangements” with other railways, it said.
CP did not identify the firms that had expressed interest in the 92-mile line that runs between Bedford and Fayette near Terra Haute, and said it hoped to make a decision by the end of the year.
The line, which Canadian Pacific took over from the former Milwaukee Road, is not connected with the rest of CP’s track network so its trains are required to use trackage rights via CSX Corp. to reach it.
“That Latta Subdivision is really sort of an island on our railroad,” Baenen said.
The line’s primary traffic is coal, coke and potash and employs about 90 people.