CN to Acquire Athabasca Northern Railway
Posted on: Wednesday, 26 December 2007, 15:00 CST
Canadian National Railway CN will acquire the Athabasca Northern Railway, a railway running 325 kilometers between Boyle, Alberta and Fort McMurray, Alberta, to preserve a critical rail link to the oil sands region of northern Alberta.
CN's purchase and rail-line rehabilitation plan are premised on long-term traffic volume guarantees that the company has negotiated with shippers Suncor Energy, OPTI Canada and Nexen.
CN will pay C$25 million for Athabasca Northern Railway (ANY) and invest C$135 million in rail-line upgrades over three years to improve transit times and service consistency.
The 202-mile ANY connects with CN at Boyle, Alta., located 101 miles north of Edmonton. CN's plans for the line will preserve market access to existing and potential receivers along the rail corridor - today sulphur and petroleum coke move southbound on the ANY, and increased volumes of these commodities are expected to move over the line in future. CN's line rehabilitation, including upgraded rail, ties, bridges and new ballast, will allow greater volumes of northbound shipments of construction materials and machinery to support oil sands development.
Source: Datamonitor
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