RailAmerica signs Ottawa Valley Railway lease
CANADA: The RaiLink Canada subsidiary of short line group RailAmerica Inc has signed an agreement to operate a section of Canadian Pacific 's Ottawa Valley Railway, which carries pulp, paper and related products.
RaiLink Canada announced the termination of its lease of the OVRR in December 2009, but continued to operate 250 km between Sudbury, Mattawa and Temiscaming for an interim period. On October 4 it announced a new agreement to continue to operate this section for five years, with an option for an extension.
'We are pleased to maintain this railroad as part of our portfolio and continue our relationship with CP under this new operating agreement', said RailAmerica President & CEO John Giles. 'The current operation remains an attractive enterprise for both us and CP.'