14 March 2005
ICF Gets Deal with
CPR
The Island Corridor Foundation
has reached a deal with CPR to acquire
its portion of the E&N Railway.
"The deal with the CPR is pretty much
signed, sealed and delivered", Jack Peake, foundation chairman said
Thursday.
He did not disclose the details of the deal, but said it will
likely be officially signed at the foundation's Annual General Meeting.
While a date and a venue for the AGM has not yet been announced, Peake
expects it will be held near the end of March. "It is hugely historic,
no doubt about it", he said about the deal.
The foundation, made up of a
consortium of municipal and regional governments, is also moving full
steam ahead to acquire the 289 kilometres of track RailAmerica owns on
Vancouver Island, Peake said. "We are a lot closer to being able to do
something with RailAmerica", he said. "We also have a number of
potential operators, not just one, wanting to run the railway".
Peake attributed the success of forward moving talks with RailAmerica to its
success in reaching a deal with CPR.
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