CN/CP-OWNED TRANS-BORDER BRIDGE TO BE SOLD
Canadian National Railway Co. and Canadian Pacific Railway are prepared to sell a jointly owned bridge at Niagara Falls, N.Y., to Whirlpool International Truck Bridge (USA) and its sister company in Canada for Can $19.8 million ($12.8 million).
WITB plans to convert the bridge into a three-lane commercial truck bridge. Canada Southern Railway Co., a jointly operated CN/CP rail operation, once used the bridge.
“Our plan for some time has been — subject to government and regulatory approvals — to develop a dedicated international toll bridge for the exclusive use of large commercial trucks,” said William H. Truesdale Jr., president of WITB (USA).
The proposed Can $343.8-million ($220 million) redevelopment of the bridge and approaches is expected to take five years. The purchase is expected to close next year.
After several ownership changes, the bridge was bought in 1985 along with other Canada Southern Railway Co. assets by CN and CP. It formed part of the CP international gateway route in Dec. 19, 2001.