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16 August 2004

Farmers Trying to Buy Railway

 
 
Regina - It's coming down to the wire for a group of farmers who want to buy a railway line in southern Saskatchewan. They have just two weeks to raise the final $1 million.
 
Con Johnson farms near Bracken. He's always relied on the railway to ship his crops to the nearest grain terminal, hundreds of kilometres away. But the local railway is in danger of disappearing.
 
In 1999, CP Rail sold the line southwest of Moose Jaw to Westcan, a B.C. salvage company. Now Westcan wants to sell it.
 
Johnson and other farmers who have invested in Great Western Railway want to buy the line, but they need to raise $6 million. So far, they've raised about half. They also have an interest free loan of nearly $2 million. That leaves another $1 million to go.
 
Johnson, who chairs the group, believes they can do it. "Most of us came to the realization a long time ago nobody is going to help us," he says. "If we do something down here - we do it ourselves."
 
Johnson says most people realize keeping the railway is the only way they will get any economic development in the area. He says it's crucial for retaining their access to the markets.
 
"We have roads you can't drive cars over. If you put these millions of bushels back on the highway, it just won't take it."
 
Johnson admits it's a difficult time to ask farmers for money. One share costs $5,000 and many farmers don't have a lot of cash on hand. However, the group promises to pay a dividend of three percent if they're successful in their bid. The deadline is 30 Aug 2004.