(RailAmerica issued the following news release on May 25.)
BOCA RATON, Fla. — RailAmerica, Inc. today announced that its subsidiary, Central Railroad of Indianapolis, notified the Surface Transportation Board (STB) that it intends to lease 276 miles of railroad from CSX Corporation’s (NYSE: CSX) subsidiary, CSX Transportation, Inc., subject to negotiation and execution of a definitive agreement.
The line, known as the Fort Wayne Corridor, runs west from Crestline, Ohio to Tolleston, Indiana, which is due east of Chicago. Central Railroad of Indianapolis anticipates moving approximately 42,000 carloads on the Fort Wayne Corridor annually.
RailAmerica’s Indiana & Ohio Railway directly connects and interchanges traffic with the Fort Wayne Corridor. Traffic on the line also interchanges with CSXT, Norfolk Southern and Indiana Harbor Belt Railroad Company (IHB), as well as all western & Chicago-based carriers through the IHB. Major customers on the line are Central Soya, Steel Dynamics, Procter & Gamble, Cargill and National Lime & Stone. Commodities shipped on the line include agricultural products, chemicals, metals, paper and minerals.
RailAmerica, Inc., based in Boca Raton, Fla., is the world’s premier short line and regional railroad operator, with 47 railroads operating approximately 12,000 miles in the United States, Canada, and Australia. The Company is a member of the Russell 2000(R) Index. Its website may be found at www.railamerica.com.
CSX Corporation, based in Jacksonville, Fla., owns one of the largest rail networks in the United States. CSX Transportation Inc. and its 34,000 employees provide rail transportation services over a 23,000 mile route network in 23 states, the District of Columbia and two Canadian provinces. CSX Corporation also provides intermodal and global container terminal operations through other subsidiaries.