15 December 2006
CP Will Get Millions in State Aid for Improvements
Albany New York USA - Canadian Pacific Railway, the owner
of the Delaware & Hudson Railroad, will receive $7 million from New York state to finance the construction of a new facility to
load containers on and off rail cars.
The state would make $3 million available in the 2007-08 fiscal year and $4 million would be provided in
2008-09.
The Delaware & Hudson already operates an intermodal freight facility in Albany, N.Y., but the company wants to construct a new
one, said Denyse Nepveu, a Canadian Pacific spokeswoman. The railroad does not yet have a location for the new facility.
The project is still in the early planning stages, she said. It's also too early to say what the total cost will be, but Canadian
Pacific does appreciate the state's support, Nepveu said.
The funding was among $60 million in state rail project funding announced Friday by Gov. George Pataki's office.
The funding plan also calls for spending $5 million each year for three years to subsidize Amtrak's Adirondack Service which runs
from Albany to Montreal through Schenectady, Saratoga, Essex, Washington, and Clinton counties.
The $60 million also includes $3 million to improve the railroad line between Saratoga Springs and North Creek, Warren County. Another
$1 million will go to repair track in the town of Corinth that was damaged by a beaver dam.
The funding includes the final three years of the five-year, $100 million Rail Freight and Passenger Rail Assistance
Program financed by the State Dedicated Fund. The initiative provided $100 million for rail improvements, $20 million per year,
through 2010. During the first round of funding in 2005, 19 railroads were awarded $40 million.
"The re-establishment of the rail line from Saratoga Springs to Corinth and on to North Creek will assure the
economic viability of the southern Adirondack region," Saratoga Economic Development Corp. Senior Vice President Jack Kelley said
in a written statement.
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