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Rail News: Short Lines & Regionals
10/6/2011
Rail News: Short Lines & Regionals
Private investor group acquires Iowa line from UP
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North Central Iowa Rail Corridor L.L.C. recently signed a purchase agreement with Union Pacific Railroad to acquire a 28-mile line between Belmond and Forest City, Iowa.
UP had planned to abandon the Forest City Line, but North Central Iowa Rail Corridor — a group of private investors — sought to buy the route to serve agricultural product shippers. The line includes 600 feet of connecting track in Garner, Iowa.
North Central Iowa Rail Corridor also signed a 10-year lease agreement with Iowa Northern Railway Co. to operate the line. Iowa Northern will interchange with Canadian Pacific on the route.
UP had planned to abandon the Forest City Line, but North Central Iowa Rail Corridor — a group of private investors — sought to buy the route to serve agricultural product shippers. The line includes 600 feet of connecting track in Garner, Iowa.
North Central Iowa Rail Corridor also signed a 10-year lease agreement with Iowa Northern Railway Co. to operate the line. Iowa Northern will interchange with Canadian Pacific on the route.
