Monday, January 5, 2009
Canadian National (CN) Rail Purchase - Update
On December 24th, the federal Surface Transportation Board (STB) approved Canadian National Railway’s purchase of the EJ&E (Elgin, Joliet & Eastern) from U.S. Steel Corp. for $300 million. However, the Board imposed conditions on the purchase that will help offset the environmental impact on towns through which the EJ&E runs. The ruling becomes official on January 23rd. The STB will monitor CN’s compliance with the conditions of the purchase for the next five years. For towns along the existing CN lines, including La Grange Park, the purchase will mean fewer delays at rail crossings.
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