The railroads will spend $100 million to upgrade and install new track between Indianapolis and Louisville.
CSX and Louisville & Indiana Railroad (L&I) have agreed to partner on a $100 million joint infrastructure improvement project on L&I’s rail corridor between Indianapolis, Ind. and Louisville, Ky..
According to the terms of the agreement, Jeffersonville, Ind.-based L&I, a subsidiary of Anacostia Rail Holdings, will grant CSX a permanent easement to operate on the 106-mile route for a purchase price of $10 million. The remaining $90 million will go towards infrastructure upgrades to improve track structure and right of way over the next several years, including 20 miles of new rail along the southern portion of the line.
The joint project was approved by the U.S. Surface Transportation Board in April.
“CSX’s investment of approximately $100 million will provide enhanced rail access for the Port of Indiana-Jeffersonville, increase capacity and efficiency along this corridor and improve connectivity to CSX’s broader network,” Oscar Munoz, president and chief operating officer, CSX Corporation, said in a joint statement from the companies. “These critical infrastructure improvements include the installation of new rail, upgrades to the rail bed structure and bridge improvements to enhance safety and service for customers in the Midwest and provide more efficient rail service throughout the region.”
“Since 2011, both L&I and CSX have coordinated with state and local officials to discuss the upgrade of the line to support manufacturers, farmers, marine ports and other contributors to the area’s economic growth,” added L&I President John Goldman. “As we undertake the first phase of construction, we will continue to collaborate with local officials to plan and execute construction activities to minimize disruptions to communities along the corridor.”
CSX, L&I partner on joint infrastructure project
