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Rail News: Rail Industry Trends
7/7/2003
Rail News: Rail Industry Trends
CPR seeks buyers for two Alberta branch lines
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Canadian Pacific Railway is looking to unload two low-density branch lines in southern Alberta.
On July 2, the Class I announced it would seek expressions of interest (EOIs) for the lines — a 14.3-mile segment of the Stirling subdivision between Foremost and Etzikom, and an 11.2-mile segment of the Cardston subdivision between Raymond and Magrath — in accordance with Canada Transportation Act (CTA) discontinuance procedures.
The lines no longer are viable due to declining traffic or the need for "significant investment," CPR said in a prepared statement.
Parties interested in acquiring either line must submit a written EOI to the railway by Sept. 2. If the Class I doesn't receive any EOIs, it may offer the lines for sale to provincial and municipal governments. The governments then would have 30 days to consider the offers. If the parties fail to reach agreements, CPR may discontinue operations on these lines, according to CTA rules.
CPR designated the Stirling line as a discontinuance candidate in 1997; the Cardston segment, in June 2002.
On July 2, the Class I announced it would seek expressions of interest (EOIs) for the lines — a 14.3-mile segment of the Stirling subdivision between Foremost and Etzikom, and an 11.2-mile segment of the Cardston subdivision between Raymond and Magrath — in accordance with Canada Transportation Act (CTA) discontinuance procedures.
The lines no longer are viable due to declining traffic or the need for "significant investment," CPR said in a prepared statement.
Parties interested in acquiring either line must submit a written EOI to the railway by Sept. 2. If the Class I doesn't receive any EOIs, it may offer the lines for sale to provincial and municipal governments. The governments then would have 30 days to consider the offers. If the parties fail to reach agreements, CPR may discontinue operations on these lines, according to CTA rules.
CPR designated the Stirling line as a discontinuance candidate in 1997; the Cardston segment, in June 2002.
