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Earlier this week, Mississippi Gov. Haley Barbour signed into law a $316 million transportation bond package that includes $15 million to help rebuild a 92-mile Columbus & Greenville Railway line that's been closed since 2001.

The state will provide loans and grants to offset the cost of rehabilitating the line between West Point and Greenwood, but only if $65 million is contributed to the project via private dollars, and federal and local government funds. The North Central Mississippi Regional Railroad Authority is leading an effort to renovate the line, which was damaged by floods nine years ago.

In 2008, Genesee & Wyoming Inc. acquired Columbus & Greenville Railway as part of the CAGY Industries Inc. purchase.