Maine reaches deal to buy imperiled rail lines

RELATED TOPICS: SHORT LINES AND REGIONALS
AUGUSTA, Maine — The State of Maine has reached a deal to buy 233 miles of track from Montreal, Maine & Atlantic Railway to prevent their abandonment, Business Week has reported. The state has been fighting for more than a year to preserve rail service north of Millinocket, Maine, and the agreement apparently reaches that objective.

“Lifting this cloud of uncertainty not only helps stabilize these rail-dependent industries, but with improved services, lays the groundwork for future expansion and new business opportunities,” said David Cole, the state’s transportation commissioner. The line mostly serves lumber and paper-industry customers.

Under the agreement, the state will pay MM&A $20.1 million for the rail line. It’s received a $10.5 million federal grant to help fund repairs and maintenance on the line.

MM&A will continue operating the line until the state selects a new operator. The deal is to be completed within 90 days.

AUGUSTA, Maine — The State of Maine has reached a deal to buy 233 miles of track from Montreal, Maine & Atlantic Railway to prevent their abandonment, Business Week has reported. The state has been fighting for more than a year to preserve rail service north of Millinocket, Maine, and the agreement apparently reaches that objective.

“Lifting this cloud of uncertainty not only helps stabilize these rail-dependent industries, but with improved services, lays the groundwork for future expansion and new business opportunities,” said David Cole, the state’s transportation commissioner. The line mostly serves lumber and paper-industry customers.

Under the agreement, the state will pay MM&A $20.1 million for the rail line. It’s received a $10.5 million federal grant to help fund repairs and maintenance on the line.

MM&A will continue operating the line until the state selects a new operator. The deal is to be completed within 90 days.

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