Wednesday, August 12, 2009

NS to spend $95 million on Crescent Corridor terminal

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Norfolk Southern announced Wednesday that it plans to build a $95 million intermodal terminal in Greencastle, Pa., as part of the railroad's Crescent Corridor initiative to establish a high speed intermodal freight rail route between the Gulf Coast and the Northeast.

The new facility, serving the Mid-Atlantic region of the corridor, will be constructed on 200 acres next to the planned Antrim Commons Business Park. It's scheduled to go into operation in late 2011.

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"Because of its strategic location to key markets in the Mid-Atlantic region, the new Franklin County terminal is vital to the success of our Crescent Corridor," said Wick Moorman, Norfolk Southern's chief executive officer (pictured at left). "We commend Gov. Ed Rendell for his efforts to provide state funding for our intermodal terminal initiatives in Greencastle and Philadelphia. We also want to thank Senators Robert Casey and Arlen Specter, and Rep. Bill Shuster, for their support of a public-private partnership with the U.S. Department of Transportation so that Pennsylvania will benefit from the economic development opportunities and job growth potential of integrated logistics hubs."

"Rail freight is an important component of any transportation infrastructure discussion," Gov. Rendell said. "Pennsylvania has invested heavily in rail freight because it is a smart, environmentally friendly, cost-effective infrastructure investment. I will continue to advocate for rail freight investments at the state and national level."

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NS said $2.5 billion in Crescent Corridor projects have been identified, and "based on the public benefits that stand to be derived in the form of highway congestion relief, NS plans to implement the Crescent Corridor initiative through a series of public-private partnerships. When the Crescent Corridor initiative is fully implemented, it is anticipated that more than one million truckloads of freight will be absorbed from the highways to the rails annually, saving the U.S. more than 170 million gallons of fuel per year."