USS-CN rail deal unlikely by year-end
Nov 25, 2008 | 09:54 AM
| Corinna Petry
Canadian National Railway Co.'s purchase of the Elgin, Joliet & Eastern Railway Co. (EJ&E) from U.S. Steel Corp., if approved, is unlikely to occur before early next year.
The U.S. Surface Transportation Board (STB) expects to issue a final environmental impact statement "sometime in the next few weeks" that will help determine whether CN Railway's proposed acquisition of the line can be consummated.
"This will push a final decision in the matter to sometime early in 2009," according to a Nov. 21 letter from Matthew T. Wallen, director of the STB's Office of Public Affairs, Government Affairs and Compliance. The letter was sent to six Illinois and Indiana congressmen in response to their Nov. 17 letter asking the STB not to expedite the environmental review process, as previously requested by the U.S. Transportation Department and CN Railway, which unsuccessfully petitioned the....
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