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1/4/2021
Rail News: Short Lines & Regionals
iCON acquires interest in Iowa Interstate Railroad
Railroad Development Corp. (RDC) has formed a strategic partnership with iCon Infrastructure in which iCON Infrastructure Partners V will become a 40% partner in Iowa Interstate Railroad Ltd. (IAIS).
RDC will remain the majority owner of IAIS, RDC officials said in a press release.
A regional railroad, IAIS operates a mainline between Chicago and Omaha, Nebraska, and a branch line to Peoria, Illinois. Key products handled by the regional include corn, soybeans, ethanol, animal feed, construction stone, steel, sand and intermodal containers.
With ICON V's investment, "IAIS will now increasingly serve as a platform for growth," said RDC and IAIS Chairman Henry Posner III.
That growth could range from partnerships with other railroads, to industrial development and investment in infrastructure such as intermodal facilities and river ports, Posner said.
"We see in iCON a partner with global reach and a focus on infrastructure, with resources that complement our own," he added.
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