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TheStreet Open House

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.

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