Railink is building its regional railroad one track at a time.
The Edmonton-based company announced its two wholly owned subsidiaries of Quebec Railway Corporation have agreed in principle to buy a 401-kilometre line between Moncton, N.B. and Mont-Joli, Que. The deal is expected to close by December.
The line handles 35,000 carloads of traffic each year and serves major shippers in the mining and pulp and paper industries.
Quebec Railway Corporation operates two regional railways in Quebec, both acquired from CN, said Gordon Clanachan, president and chief executive officer of Railink.
“QRC and CN have developed a successful transportation partnership on these lines. Customers receive the benefits of QRC’s local management and customer-focused service while retaining access to CN’s continent-wide railway network.”
This acquisition increases the company’s track to just over 2,240 km.
