CN closes sale of transfer terminal in Louisiana

08/2/2011 | Canadian Business

Canadian National Railway has closed the sale of IC RailMarine Terminal to Raven Energy, an affiliate of Foresight Energy and the Cline Group, for $73 million. CN plans to strike an agreement with Savatran, also an affiliate of Foresight and Cline. "With this partnership and the significant coal mine and terminal expansions already announced or planned along our rail network in Western Canada, we hope to double our coal export volume over the next four years if trends of increasing global demand continue," said Claude Mongeau, CEO of CN.

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