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Rail News: Passenger Rail
3/28/2012
Rail News: Passenger Rail
Metrolinx acquires two CN track segments
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Yesterday, CN announced it sold two line segments in the greater Toronto area to Metrolinx for $310.5 million (in Canadian dollars).
GO Transit's Richmond Hill commuter-rail service operates over a portion of CN's Bala Subdivision. Metrolinx, which governs GO Transit, acquired a segment of the subdivision from Rosedale Valley Road north through the Don Valley to CN's main east-west line north of Steeles Avenue near the Toronto-York Region border; and a segment of the Class I's Oakville Subdivision from near 30th Street in the Etobicoke area of Toronto to just west of the Fourth Line in Oakville, Ontario.
The transaction will enable Metrolinx to “further its future service objectives, while protecting CN's operating rights to ensure continued service to its freight customers,” said Luc Jobin, the Class I’s executive vice president and chief financial officer, in a prepared statement.
GO Transit's Richmond Hill commuter-rail service operates over a portion of CN's Bala Subdivision. Metrolinx, which governs GO Transit, acquired a segment of the subdivision from Rosedale Valley Road north through the Don Valley to CN's main east-west line north of Steeles Avenue near the Toronto-York Region border; and a segment of the Class I's Oakville Subdivision from near 30th Street in the Etobicoke area of Toronto to just west of the Fourth Line in Oakville, Ontario.
The transaction will enable Metrolinx to “further its future service objectives, while protecting CN's operating rights to ensure continued service to its freight customers,” said Luc Jobin, the Class I’s executive vice president and chief financial officer, in a prepared statement.
