Wednesday, April 08, 2009

GO Transit purchasing strategic CN line

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In a transaction valued at $C160 million (US$129 million), GO Transit will acquire Canadian National’s Weston Subdivision for expanded commuter rail service between Toronto's Union Station and regions northwest of the city.

jan3107-go.jpgGO Transit and VIA Rail currently operate 48 passenger trains a day over the line, which accommodates GO's Georgetown commuter rail service as well as VIA intercity trains operating between Toronto, Kitchener, and other points in southwestern Ontario. CN operates three daily local freight trains along the corridor.

GO said that by owning the corridor, it will be better positioned to add more infrastructure and expand service. The acquisition aligns with GO Transit's Strategic Plan GO 2020.

"This is a major step forward for future growth and expansion along this already busy corridor," said GO Transit Chairman Peter Smith. "This purchase sets the framework for future GO rail corridor purchases, and we look forward to continuing our longstanding partnership with CN."

Under an agreement announced Wednesday, CN and VIA Rail will continue to operate over the line.