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BNSF Railway Co. recently agreed to sell a 300-mile mainline between Belen, N.M., and Trinidad, Colo., to the New Mexico Department of Transportation (NMDOT) for $76 million. The department will acquire the trackage in segments and provide commuter-rail service on the line. The parties expect to complete the sale early next year.

Per the sale agreement, BNSF will retain freight easement rights on the line and NMDOT will acquire a 13-acre portion of the Class I's Albuquerque yard.

“BNSF is committed to partnering with local and state agencies to serve the best interests of private and public constituencies when it comes to increasing the use of rail for both passenger and goods movement,” said BNSF Chairman, President and Chief Executive Officer Matt Rose in a prepared statement.