Canadian Pacific Railway sells southern Indiana rail line to Indiana Rail Road Co.
1 report, 1 independent
Updated Sep 11
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What happened
Canadian Pacific Railway reached an agreement to sell the 92.3-mile Latta Subdivision, which runs between Fayette and Bedford, Indiana, to Indiana Rail Road Co. The transaction is expected to close in the first-half of 2006, pending approval from the Surface Transportation Board. The sale includes trackage rights over CSX Transportation from Chicago to Terre Haute, Indiana, and from Bedford to Louisville, Kentucky.
Why it matters
The divestiture of the line changes the regional rail infrastructure in southern Indiana. Indiana Rail Road Co. stated the sale offers opportunities to bring scheduled service to customers in Terre Haute and other points, while Canadian Pacific Railway noted the sale would benefit regional shippers and ensure ongoing employment.
Who's involved
- Canadian Pacific RailwaySold the 92.3-mile Latta Subdivision line in southern Indiana.