(Dow Jones circulated the following article on May 21.)
CALGARY — In response to the British Columbia government’s request for proposals, Canadian Pacific Railway Ltd. said it plans to file a formal expression of interest in BC Rail in the next 10 days.
The B.C. government is looking for a private-sector partner to take over operation of BC Rail, Canada’s third-largest railway. It issued its request for proposals on May 15.
In a news release Wednesday, CP Rail said its extensive track connections to other carriers “offer shippers and communities on BC Rail more gateways to North American markets than any other railway.”
It said this access, “along with its history of forming successful alliances with other carriers and its industry-leading safety record, provide the essential ingredients in restructuring BC Rail for the success of shippers and communities.”
“We strongly believe we can leverage our network of rail lines, connections and alliances to meet their needs and to achieve sustainable efficiencies for BC Rail,” CP Rail president and chief executive Rob Ritchie said in the release. ” We will put forward a public-private partnership proposal that is structured to deliver these benefits.”
CP Rail operates a 14,000-mile rail network.