CSX Corp. To Invest $160 Million In The Coming Years For National Gateway Project Posted 05.18.2011
RTT News (Online)
Transportation company CSX Corp. said Wednesday it will invest $160 million over the next several years to complete 'one of the most important transportation projects in the country ' - the National Gateway.
According to CSX, this project will deliver substantial public benefits, including thousands of jobs.
"Through the National Gateway, CSX and its public partners are working together to vastly improve the quality and flexibility of the eastern rail network," said CEO Michael Ward.
"With today's new $160 million commitment, CSX will have obligated a total of about $575 million over several years to better meet the needs of our customers, our states and our ports.", Ward added.
The company said the total project costs about $850 million, and state and federal partners are investing more than $280 million.
The National Gateway investment will be made over several years and, taken together, represent one of the largest project investments in company history. The amounts are included in the company's long-term capital plans, CSX said.
CSX adds $160 million to National Gateway project Posted 05.18.2011
The Associated Press (Online)
Railroad operator CSX Corp. said on Wednesday that it will spend another $160 million on the National Gateway, a rail upgrade project that will allow it to run trains with double-stacked cars to run from the East Coast to the Midwest.
The new money brings CSX's spending plans for the project to $575 million over several years. State and federal aid is expected to bring total spending on the project ...
CSX pledges $160m more to expand Virginia Ave. tunnel Posted 05.18.2011
The Washington Examiner (DC)
By Kytja Weir
A century-old train tunnel in the District will be upgraded, after railroad company CSX pledged $160 million on Wednesday to help ease a major bottleneck that currently limits cargo passing through the Washington region.
The money means that the freight shipper can start a long-sought process to expand the Virginia Avenue Tunnel that runs from Second Street to 11th Street just below the Capitol in Southeast. The project ...
CSX Funding the Virginia Avenue Tunnel, NEPA Process to Begin Posted 05.18.2011
CSX announced today that it will be investing $160 million of its own monies in its National Gateway project, with most of that money going toward the funding of the expansion of the Virginia Avenue Tunnel, the 107-year-old structure that runs beneath Virginia Avenue from 2nd Street SE to 12th Street SE. With this decision, the company will start moving toward design and construction of the project, first by going through the NEPA ...