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
TheStreet Open House

CSX, Local Officials Mark Start Of Construction For Quebec Intermodal Facility

Stocks in this article: CSX

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

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 This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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