13 March 2009
Southern Manitoba Railway Ready to Roll
Morden Manitoba - Shareholders are poised to move ahead
with plans for a local section of rail line that had been slated to be shutdown.
Boundary Trail Railway Company recently announced that it had in place all of the financing needed to complete its purchase of the
former La Riviere rail subdivision from Morden to La Riviere and the portion of the Napinka rail subdivision from La Riviere to
Holmfield.
The company expected to complete the transaction with Canadian Pacific Railway by the April and be in a position to start operating
this spring.
In the meantime, the company has also been taking and continues to take, orders for the sale of gravel from the right of way west of
Binney Corner, which is also part of the assets being purchased.
The Boundary Trail Railway Company will now start moving ahead with its plans starting with its inaugural general meeting in Manitou
19 Mar 2009.
The rail line was part of the La Riviere subdivision and the deal includes Boundary Trail Railway Company acquiring all of the 80
miles of right of way in the La Riviere subdivision and the Napinka subdivision as well.
Boundary Trail Railway Company was previously reported to be paying CP $4.34 million for the combined rail and right of way assets.
It had attracted financial backing from several sources including producers, business owners, and municipal bodies.
Company officials have suggested there is strong support in the area that this line could serve including from producers as far north
and west as St. Leon, given the catchment area has annually produced an equivalent of over 8,000 railcars of grain.
They say rail is recognized to be a more efficient and greener method of moving commodities, so they are optimistic this venture could
succeed as a valid shipping alternative for producers in southwestern Manitoba.
For further information, contact Kevin Friesen at 825-7372 or Art Stacey at
934-2537.
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