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CN to buy rail link to oilsands

EDMONTON - CN will buy the Athabasca Northern Railway (ANY) for $25 million to save the only rail link to the oilsands.
Monday, December 24, 2007

The company will spend another $135 million to upgrade the aging line. ANY had said it would cease operations on the line that runs from Boyle, 160 kilometres northeast of Edmonton, to Fort McMurray unless new investors came on board.

Long-term traffic volume guarantees from shippers Suncor, Opti Canada and Nexen made the purchase and rehabilitation plan feasible, CN said.

Improved rails, ties, bridges and ballast will allow increased shipments of construction material and machinery for construction of oilsands developments.

Last year CN bought Lakeland and Waterways, which runs between Lac La Biche and Edmonton, and connects with ANY at Boyle.

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