The City of Wilmington, N.C., has selected Philadelphia-based Strategic Rail Finance to study the feasibility of its long-planned rail realignment project.
With a projected cost of up to $1 billion, the project consists of building new infrastructure and shifting rail freight service across the Cape Fear River, allowing existing rail lines to be re-purposed for passenger rail. SRF will investigate a range of viable options for funding, ownership, operation and maintenance.
The rail realignment project will replace and improve the existing freight rail route between CSX’s Navassa (Davis) Yard and the Port of Wilmington by creating a new, shorter route that no longer runs through some of Wilmington’s busiest streets and most densely populated areas. “It will improve freight rail operations, public mobility, public safety, economic development and quality of life in the region,” SRF said.
Genesee & Wyoming subsidiary Wilmington Terminal Railroad (WTRY) serves the Port of Wilmington. WTRY is a 17-mile Class III serving the North Carolina Port Authority and interchanging with CSX. Commodities transported include chemicals, forest products, pulp and paper products, petroleum products and steel. WTRY is part of G&W’s Rail Link Region Railroads, headquartered in Jacksonville, Fla.