STB PREPARES FOR REVIEW OF ICEÆS ACQUISITION OF I&M RAIL LINK
The U.S. Surface Transportation Board has begun to receive comments from the rail industry regarding the takeover of I&M Rail Link by the Iowa, Chicago & Eastern (ICE) Railroad Corp.
The I&M Rail Link acquisition would involve 1,125 miles of line, in addition to 275 miles of trackage rights, which would more than double the trackage of ICE and its parent company, the Dakota, Minnesota & Eastern Railroad. The STB recently authorized the Dakota, Minnesota & Eastern Railroad to undertake a billion-dollar project to build a new rail line into Wyoming’s Powder River Basin.
The STB said the acquisition of I&M Rail Link could go through as early as June 14, unless stayed by the board. Industry petitions to stay the proposal must be received by the STB for review by June 14.