Sunday, July 27, 2008

U.S. regulators agree to time limit on CN review

U.S. regulators on Friday rejected a call by Canadian National Railway for a ruling by the end of the year on its purchase of the Elgin, Joliet & Eastern Railroad, but agreed to a limit on how long the review will continue.

The Surface Transportation Board ruled the environmental impact review of CN's planned purchase of the Chicago-area rail line will be completed between early December and the end of January, and it will issue a final decision "as soon as possible" after that.

A draft version of the review, released on Friday, generally dismissed claims by opponents of the deal that increased train traffic on the EJ&E would cause major problems at crossings, and said CN should not have to pay the full cost of grade crossings that might have to be bridged to ease safety concerns.

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