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RAIL EMPLOYMENT & NOTICES


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Rail News Home Rail Industry Trends

9/27/2002



Rail News: Rail Industry Trends

RailAmerica's Ferronor lands long-term natural gas contract


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RailAmerica Inc. Sept. 27 announced that its Chilean railroad, Empresa de Transporte Ferroviario S.A. (Ferronor), finalized a five-year, $9 million agreement with Chilean compressed natural gas (CNG) supplier Norgas S.A., under which Ferronor will move CNG in tank cars from northwest Argentina to northern Chile. CNG then will move by truck to industrial and commercial customers.


RailAmerica purchased 55 percent of Ferronor from Chile in February 1997, and since that time has doubled the railroad's revenue. The 1,400-mile regional last year recorded $22 million in revenue and moved 107,000 carloads.


To date, Ferronor has signed long-term transportation agreements totaling $420 million.