MONTREAL, Nov. 01, 2023 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) today announced that it acquired from Genesee & Wyoming Inc., a stake in the Cape Breton & Central Nova Scotia Railway that includes 145 miles of active track.Link to the CN press release: https://www.cn.ca/en/news/2023/11/cn-an ... --wyoming/
“We are proud to be partnering with Genesee & Wyoming to serve existing customers on this line. This partnership will further reinforce CN’s presence in eastern Canada where we believe there will be a growing role to play in the competitiveness of North American trade. It will also enable our network to reach new opportunities in the longer-term, further advancing our strategic agenda of accelerating profitable, sustainable growth.”
Patrick Lortie, Senior Vice-President and Chief Strategy Officer at CN
The CBNS railway, which interchanges with CN’s mainline at Truro, Nova Scotia, will continue to be operated by a Genesee & Wyoming Inc. subsidiary. This will ensure a seamless, safe, and efficient continuation of service for customers.
Link to CBNS page: https://www.gwrr.com/cbns/
Canadian National will be buying a stake in the Cape Breton and Central Nova Scotia Railway. According to the separate Genesee & Wyoming press release, CN will manage interline shipments while CBNS will continue to operate the railroad.
I did some quick research and found this: https://novaporte.ca/
It appears that CN and NovaPorte want to turn Sidney into something akin to Halifax or Saint John. The plan involves building out Sidney to handle 18,000+ TEU ships and rebuilding the portion of the CBNS between Port Hawkesbury and Sidney to 40 mph.
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