CSX to provide another $160 million for National Gateway initiative (5/19/2011)
5/19/2021Yesterday, CSX Corp. announced plans to invest $160 million during the next several years in the National Gateway intermodal initiative.
The Class I now has obligated about $575 million over the next several years for the public-private partnership project to “better meet the needs of our customers, our states and our ports,” said CSX Chairman, President and Chief Executive Officer Michael Ward in a prepared statement.
The National Gateway initiative calls for establishing a double-stack corridor between Mid-Atlantic ports and Midwestern markets by upgrading three rail corridors running through six states and the District of Columbia, and building and expanding intermodal terminals. The initiative is designed to shorten transit times and expand shippers’ access to rail services, as well as reduce greenhouse-gas emissions and fuel usage. Total project costs are estimated at $850 million, and federal and state partners are providing more than $280 million, according to CSX.
Most of the $160 million investment announced by the Class I will be used to expand and improve the century-old Virginia Avenue Tunnel in Washington, D.C., and provide double-stack train clearances in Maryland, West Virginia and D.C.
"The completion of the National Gateway and Virginia Avenue Tunnel will help improve the flow of rail traffic through the district and the region,” said Terry Bellamy, interim director of the District Department of Transportation.
Source: Progressive Railroading Daily News