JACKSONVILLE, Fla., June 3, 2013 /PRNewswire/ -- Officials from CSX Corporation (NYSE: CSX) and its transportation and intermodal terminals subsidiaries today joined officials from the City of Salaberry-de-Valleyfield and the Province of Quebec at a formal groundbreaking ceremony for the new intermodal terminal in Salaberry-de-Valleyfield. Construction began in March and the terminal is expected to open in 2015.
The $107 million project will expand CSX's presence in the market and connect the greater Montreal region and Quebec with CSX Transportation's 21,000 mile rail network in the United States.
CSX Intermodal Terminals Inc. president Wilby Whitt joined Salaberry-de-Valleyfield Mayor Denis Lapointe and other invited guests to turn the ceremonial shovel of dirt at the site of the 89-acre future terminal.
The new terminal will enable shippers in the region to capitalize on the economic and environmental benefits of intermodal rail, expand on the north-south trade opportunities offered by NAFTA, and connect to new markets.When fully operational, the terminal is expected to handle up to 100,000 containers per year, using modern rubber-tire gantry cranes to transfer containers between trains and trucks. "We believe the intermodal terminal we are building here will quickly become a positive asset for Quebec and the Salaberry-de-Valleyfield community for years to come," said Wilby Whitt, president, CSX Intermodal Terminals. Trains serving the terminal will connect through CSX's Northwest Ohio intermodal hub, offering quick and efficient access to markets across the United States. Roxboro Excavating Inc, based in Dorval, Quebec, is the lead contractor on the project. The work is expected to create about 600 jobs as it proceeds and the terminal is expected to lead to the creation of more than 300 permanent jobs. Located in the Perron Industrial Park, the terminal will be close to the newly-completed Autoroute 30, providing easy market access to the greater Montreal distribution and consumption market. As part of the project, the province of Quebec and Salaberry-de-Valleyfield are making improvements to the road network in the immediate vicinity of the terminal. The Quebec Ministry of Transportation is also supporting the project through a $6 million grant for the reduction of greenhouse emissions. CSX is also relocating a portion of its track from a residential area of Salaberry-de-Valleyfield to a location east of Autoroute 530 along side the new terminal in the industrial park. Once the track is relocated, the right of way will be sold to the city of Salaberry-de-Valleyfield for recreational use. CSX is proud of its 125-year history in Quebec, dating to the St. Lawrence and Adirondack Railway Company. About CSX CorporationCSX, based in Jacksonville Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For more than 185 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links for than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and small farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook ( http://facebook.com/OfficialCSX) and follow us on Twitter ( http://twitter.com/CSX). SOURCE CSX
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV