A €10m project to expand rail capacity at the CSP Iberian Bilbao Terminal at the Port of Bilbao has been completed. The railway facilities have been expanded from 13 950 to 41 800 m2, and the four tracks extended by 100 m to permit the operation of 550 m trains. The maximum daily capacity is 3 000 TEU.
US short line company United Rail has engaged Chicago-based investment bank Peakstone to raise capital for its plans to acquire seven railways over the next year. ‘We have identified several railroads that we have determined to be undervalued in the market’, said CEO Michael Barron. ‘Our plan is aggressive and ambitious, and we have a proven model.’
Pakistan Railways has created a ninth division, tasked with developing a rail connection between the port of Gwadar and the existing network at Jacobabad and Quetta.
Contship Italia’s subsidiary Oceanogate has become the fifth Italian operator to order a CZ Loko Class 741.7 EffiShunter 1000 locomotive, which it will deploy at the RHM container terminal at Melzo east of Milano.
Canada Development Investment Corp has reached an agreement to sell a 90% stake in Ridley Terminals Inc to Riverstone Holdings and AMCI Group for C$350m. Ridley Terminals transfers bulk commodities including coal, coke and liquefied petroleum gas from rail to ship at Ridley Island near Prince Rupert in British Columbia. The remaining 10% stake will be transferred to a limited partnership owned by the Lax Kw'alaams Band and the Metlakatla First Nation.
Eric Chavez has been appointed as General Manager of the Brownwood-based Texas Rock Crusher Railway, reporting to Jason Gill, Vice-President of Operations at TXR’s parent TNW Corp. He succeeds Andy Scheriger, who becomes Director of Sales & Business Development for TNW in Dallas.
The government of Canada is to provide C$102m for five projects to increase efficiency at the Port of Vancouver, including a new rail-served bulk export marine terminal within the Fraser Surrey Port Lands.