Short Lines

Washington State DOT picks Omaha Track to operate short-line branch, announces $5.7 BUILD grant

(Source: Progressive Railroading 06/03/2019) The Washington State Department of Transportation (WSDOT) has selected Omaha Track Inc. to operate part of the state-owned Palouse River and Coulee City (PCC) rail system. WSDOT selected Omaha Track through a competitive evaluation process following a request for proposals to operate the railroad’s P&L branch. After an agreement is signed this summer, the Omaha-based…

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Brookfield, Blackstone are among bidders for Genesee & Wyoming

(Source: Bloomberg, May 23, 2019)  NEW YORK — Affiliates of Brookfield Asset Management Inc., Blackstone Group LP, Stonepeak Infrastructure Partners and EQT Partners are vying to acquire railroad operator Genesee & Wyoming Inc., according to people familiar with the matter. The investment firms are among suitors that have progressed into the next round of bidding…

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G&W subsidiaries lease two U.S. short lines

(Source: Progressive Railroading 03/25/2019) Genesee & Wyoming Inc. (G&W) subsidiaries Toledo, Peoria & Western Railway Corp. (TPW) and Central Railroad Company of Indianapolis (CERA) have signed long-term agreements to lease and operate the Winamac Southern Railway (WSRY) and Kokomo Railroad (KR). Together, the WSRY and KR own 57 miles of track in Indiana. The Surface Transportation…

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45-G permanence inches closer

(Source: Railway Age 02/15/2019) Written by William C. Vantuono, Editor-in-Chief On Feb. 11, HR 510, which calls for permanence of the 45-G short line tax credit, formally received its 100th co-sponsor. The bill, introduced Jan. 11 by Reps. Earl Blumenauer (D-Ore.) and Mike Kelly (R-Pa.), “has rapidly garnered significant bi-partisan support, as it has every Congress since…

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G&W attributes Q4 operating income growth to North American operations

(Source: Progressive Railroading 02/07/2019) Genesee & Wyoming Inc. announced this week its fourth-quarter 2018 operating revenue rose 0.7 percent to $575.6 million from $571.6 million in Q4 2017. Operating income for the quarter slipped 0.8 percent to $105.7 million, while adjusted operating income climbed 5.6 percent to $109.9 million. Reported diluted earnings per share (EPS) fell…

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