CSX to provide another $160 million for National Gateway initiative Posted 05.19.2011
Progressive Railroading (Online)
Yesterday, CSX Corp. announced plans to invest $160 million during the next several years in the National Gateway intermodal initiative.
The Class I now has obligated about $575 million over the next several years for the public-private partnership project to “better meet the needs of our customers, our states and our ports,” said CSX Chairman, President and Chief Executive Officer Michael Ward in a prepared statement.
The National Gateway initiative calls for establishing a double-stack corridor between Mid-Atlantic ports and Midwestern markets by upgrading three rail corridors running through six states and the District of Columbia, and building and expanding intermodal terminals. The initiative is designed to shorten transit times and expand shippers’ access to rail services, as well as reduce greenhouse-gas emissions and fuel usage. Total project costs are estimated at $850 million, and federal and state partners are providing more than $280 million, according to CSX.
Most of the $160 million investment announced by the Class I will be used to expand and improve the century-old Virginia Avenue Tunnel in Washington, D.C., and provide double-stack train clearances in Maryland, West Virginia and D.C.
"The completion of the National Gateway and Virginia Avenue Tunnel will help improve the flow of rail traffic through the district and the region,” said Terry Bellamy, interim director of the District Department of Transportation.
CSX invests another $160 million into National Gateway project Logistics Management Posted 05.19.2011
By Jeff Berman
Class I railroad carrier CSX announced this week that it will make a $160 million investment over the next several years to help complete an ambitious railroad infrastructure project, the National Gateway.
The National Gateway is a roughly $850 million public-private partnership (PPP) infrastructure initiative designed to provide a highly efficient freight transportation link between the Mid-Atlantic ports and the Midwest. It was first unveiled by CSX in May 2008.
“Through the ...
CSX Commits Funding to National Gateway, Virginia Avenue Tunnel Expansion Project Posted 05.19.2011
The Hill is Home (Online)
By Kyra Deblaker-Gebhard
CSX announced on Wednesday that the company now has the funds and the federal partner needed to begin the Virginia Avenue tunnel expansion project. CSX will contribute $160 million over the next several years to complete the National Gateway project, with the majority of the investment being used to expand the 107-year-old Virginia Avenue tunnel in Southeast. The company also announced its federal partner in the project ...
CSX to spend $160M on N.E. infrastructure Posted 05.19.2011
The Jacksonville Business Journal (FL)
By Mark Szakonyi
CSX Corp. announced Wednesday that it plans to spend $160 million over the next several years to complete a project that will better connect the mid-Atlantic ports and the Midwest.
The Jacksonville-based railway said in a news release that the majority of the money will be spent to expand and improve the century-old Virginia Avenue Tunnel in Washington, D.C., and create double-stack train clearances in Maryland ...