Norfolk Southern Corp. (NSC) announced that it has selected a site in Greencastle, Pa for a $95 million intermodal rail facility that will serve the Mid-Atlantic region as part of the Cresent Corridor initiative.

Norfolk Southern’s Crescent Corridor initiative is a multistate network of infrastructure improvements and other facilities intended to enhance its 2,500-mile rail network. Since the majority of cargo along the corridor will be intermodal, it will help to take off truckloads, thereby relieving highway congestion, greenhouse emissions and highway maintenance costs.

The company 200-acre Greencastle facility will be designed to handle more than 85,000 containers and trailers annually by late 2011. The Greencastle terminal will also represent opportunities for economic development and job growth for New Franklin County. The intermodal facility will be a public–private partnership between the Commonwealth, the Federal Government and Norfolk Southern.

Because of its strategic proximity to key markets, the Franklin County terminal is vital to the success of the high-speed freight route from Louisiana to New Jersey.

Pennsylvania Governor Ed Rendell showed his support for Norfolk Southern’s Crescent Corridor initiative on Wednesday, promising that his $45 million contribution will pass in the capital budget.

Norfolk Southern is a leading North American transportation provider. Its Norfolk Southern Railway subsidiary operates approximately 21,000 route miles in 22 states and the District of Columbia, serving every major container port in the eastern United States and providing efficient connection to other rail carriers.

Zacks Investment Research
View original at: Zacks.com News Feed

1. (UPS) Transportation – Industry OutlookStock performance in the transportation sector has been very uneven, reflecting the varying fortunes of...
2. (NSC) – Norfolk Southern Corp – Estimates Continue to RiseNorfolk Southern Corp. (NSC) has been able to leverage its strong pricing power in order...
3. (KSU) – Kansas City Southern – beaten analyst estimates four of four times by an average of 24.2%Kansas City Southern’s (KSU) share price has been in rally mode for the past month,...

Search Posts by Tag: Norfolk Southern Corp. | NSC | Railroads | Services

RSS Feeds by Tag: Norfolk Southern Corp. | NSC | Railroads | Services |

Other Posts by: vitalstocks | RSS Feed for this author