5 January 2009

CN gains Chicago area rail line

The following article is extracted from the 4 January 2009 edition of “Canadian Sailings’.

CN got its wish for Christmas when the U.S. Surface Transportation Board approved on Dec. 24 the railway’s purchase of the Elgin, Joliet & Eastern Railway for US$300 million.

The deal is intended to improve the flow of CN traffic around the congested rail infrastructure of Chicago, the hub of North American rail operations, and is said to be worth $60 million a year to the economy of the Chicago area. …