R.J. Corman signs agreement to acquire 19th railroad

R.J. Corman Railroad Co. yesterday announced it has entered into a definitive agreement to purchase a 43-mile railroad branch and lease a 20-mile branch from Norfolk Southern Railway.

If it receives regulatory approvals, the acquisition would add a 19th railroad to the company’s operational portfolio, R.J. Corman officials said in a press release. Financial terms were not disclosed.

The newly created Raleigh and Fayetteville Railroad (RFCC) will operate between Raleigh and Fayetteville, North Carolina. Commodities to be transported include chemicals, metals and construction materials, as well as forest, consumer and agricultural products.

The RFCC will interchange with NS in Raleigh, and CSX and the Aberdeen and Rockfish Railroad in Fayetteville.

R.J. Corman is expected to take over operations next month.