This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Capacity Project Announced On Premier River Line

Stocks in this article: CSX

JACKSONVILLE, Fla., Jan. 21, 2013 /PRNewswire/ -- CSX today announced a major track capacity expansion on its premier River Line between northern New Jersey and the Albany, N.Y., region. The $26 million project, with plans for additional River Line capacity expansion in future years, will enable CSX to handle more trains and support the growth of crude oil moving by rail, intermodal shipments, automobiles and other businesses while maintaining strong service performance.

A total of 18 miles of second track will be constructed over the next two to three years that will create additional capacity on the Hudson River's west shore. Preliminary work to prepare the sites in New York State at Ravena- Coxsackie, Catskill and Haverstraw is already complete with construction to begin early this year.

In addition, CSX continues to invest in terminals, clearance projects and other initiatives to prepare for near- and long-term growth in the Northeast Region, including Philadelphia's Trenton Line where clearance projects are under way. These projects complement other network capacity improvements including ongoing construction of the National Gateway to clear a route from Mid-Atlantic ports to the Midwest for double-stacked containers.

"It's critically important that we be prepared to meet our customer's needs as they grow," said Clarence Gooden, executive vice president and chief commercial officer. "The River Line is a key lane for growth and will further contribute to economic development as well as environmental benefits through CSX's terrific fuel efficiency."

Capacity on the River Line was last expanded in 2005. Consistent growth in rail traffic on the line over the last several years, along with growth projections, now warrant additional investment to further increase the corridor's capacity. The River Line is part of CSX's premier I-90 corridor that connects Chicago with New York, northern New Jersey, and the Philadelphia areas, and supports some of the network's highest velocity and volumes – much like when it existed as the centerpiece of the predecessor New York Central System.

"We continually model our growth projections to ensure that we are fully leveraging our network capacity," said Oscar Munoz, executive vice president and chief operating officer. "Today, we have sufficient capacity for our near-term growth projections, and the capacity expansion initiatives will ensure we're prepared for additional demand for our services. Demand for crude oil, for example, in the New Jersey and Philadelphia area may be as much as five trains per day, or over 400,000 barrels, over the next couple of years. Our capacity initiatives give us the capability to handle this growth along with business opportunities in our merchandise, automotive and intermodal sectors."

CSX Corporation, based in Jacksonville, Fla., is one of the nation's leading transportation companies, providing rail, intermodal and rail-to-truck transload services. The company's transportation network spans approximately 21,000 miles, with service to 23 eastern states, the District of Columbia and two Canadian provinces. CSX's network connects more than 240 short line railroads and more than 70 ocean, river and lake ports. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook ( http://www.facebook.com/OfficialCSX) and follow us on Twitter ( http://twitter.com/CSX).

 

SOURCE CSX Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs